Florida A&M's $237M Donation Revealed as Fraudulent

An investigation finds that a record-breaking gift from Gregory Gerami was based on inflated stock values and improper procedures.

The donation was voided ten days after its announcement due to procedural errors and invalid stock transfers.
School officials failed to properly vet the donation, leading to reputational damage and halted contributions from other donors.
Gerami's valuation of his company, Batterson Farms Corp., was deemed baseless by investigators.
The university president and a vice president have resigned following the scandal.
Previous warnings about Gerami's dubious business practices and failed donations were ignored by the administration.