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The final report is out regarding the controversial $237 million donation to Florida A&M University announced May 4, and it concludes that “senior leadership at the University were deceived by, and allowed themselves to be deceived by, the Donor — Mr. Gregory Gerami.”
Mishandling of the dubious gift from Gerami and the Issac Batterson 7th Family Trust may be connected to the resignation and reassignment of at least two leaders at the university, former President Dr. Larry Robinson and Dr. Shawnta Friday-Stroud, the former vice president for university advancement and executive director of the FAMU Foundation.
An independent investigation found that “neither Batterson Farms Corporation nor any of its affiliated companies had the resources available to meet the promises made in the Gift Agreement.” It revealed lapses in due diligence, leadership oversight, and policy adherence.
The report was prepared by Buchanan Ingersoll & Rooney, PC. It suggested the university could have avoided the cascade of issues regarding the gift had it practiced due diligence in September 2023, one of a handful of key failures listed in the 176-page investigative report. For example, the report noted that non-disclosure agreement was misused, creating a barrier to transparency and accountability and restricting the University Board of Trustees and Foundation Board of Directors from carrying out their proper functions.
The report recommended that Florida A&M University consider changes to its policies, position descriptions, and organizational structure to ensure that oversights do not reoccur.