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Impact on FAMU's funding following donation controversy
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Resolution / Starting Odds
Increase in Support • 33%
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Financial statements from FAMU or government funding announcements
Story
FAMU Pauses $237M Donation from Hemp Executive Amid Doubts
May 10, 2024, 01:55 AM
Florida A&M University recently received a record $237 million donation from Gregory Gerami, a hemp farming executive. Despite being the largest single gift in HBCU history, the donation has sparked skepticism and controversy. Questions arose about the legitimacy of the funds and the donor's previous failed college gift. FAMU confirmed the receipt of the stocks over a month ago, which are now in the university's financial account, and are bound by an NDA on details. Amidst the ongoing doubts, FAMU's Board of Trustees has called a special meeting, and the university has decided to pause the acceptance of the donation while further investigations are conducted, following a 9-page gift agreement.
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