Title: Controversy Surrounds $237.75 Million Donation to Florida A&M University

In a shocking turn of events, Florida A&M University (FAMU) has decided to put a purported $237.75 million donation on hold amid concerns raised about the legitimacy of the gift and the details surrounding the donor's previous donations. The announcement of this donation, which was made during FAMU's commencement ceremony, was initially hailed as one of the largest personal donations ever received by a historically Black college or university.

The donor, identified as Gregory Gerami, the 30-year-old CEO of Texas hydroponic hemp farm company Batterson Farms Corp., presented the generous sum via an oversized ceremonial check to FAMU administration members, including President Larry Robinson. In a press release, President Robinson described the gift as "breathtaking in its generosity and its scope."

However, doubts were soon raised after media reports and FAMU board leaders expressed concerns about the actual value of the stock gift and the legitimacy of Gerami's previous donations. It came to light that a similar deal involving Gerami at Coastal Carolina University fell through in 2020. Gerami had initially pledged a $95 million donation but later backed out, claiming racism from university officials.

At an emergency board meeting, FAMU board of trustee and foundation members voiced their frustration and concerns about the school's vetting process regarding Gerami's donation. Some members of the FAMU Foundation Board of Directors were not informed of the donation until it was announced at the commencement ceremony. Calls for an independent investigation into the transaction were made by Vice Chair of the Board of Trustees, Deveron Gibbons.

FAMU Board Chair Kristin Harper expressed her agreement with the raised concerns and stated, "Serious concerns have been raised regarding the validity of the gift, the adequacy of the due diligence processes, and whether the Foundation Board and Board of Trustees have been provided ample oversight opportunity."

FAMU released a statement asserting that due diligence had been performed before accepting the donation. However, it was revealed that a non-disclosure agreement imposed by Gerami prevented officials from disclosing the details to the university's board of trustees or directors.

The controversy has put FAMU's reputation at stake, causing board members to worry about restoring faith in the university among its alumni and supporters. The Special Board of Trustees has scheduled a meeting on May 15 to further discuss the donation.

Gregory Gerami, the donor, declined to comment when approached by CNN and referred questions to the university. As of now, there has been no response from FAMU's communications department regarding detailed questions about the gift and the vetting process.

The pause on the $237.75 million donation has left FAMU in a state of uncertainty as it grapples with the need for further investigation to ensure the legitimacy of the gift and regain the trust of its stakeholders.