- Monday, FAMU got the results of an independent investigation. It found that $237 million gift was fraudulent.
- Students say they're glad the independent investigation is over, and everyone can focus on the semester that's approaching soon.
- Watch the video above to hear from FAMU students after independent investigation into "Major Gift" concludes.
BROADCAST TRANSCRIPT
A lack of trust...just one of the factors that led Florida A&M University into the national spotlight for a major gift that turned out to be fraudulent.
I'm Terry Gilliam your SW Tallahassee Neighborhood reporter.
In addition to finding out what's in this release, I'm also getting the initial reaction from FAMU students.
"When I saw it on Instagram, I was already kind of skeptical looking at it."
That Instagram post FAMU student, Malik Patrick is talking about was the Major Gift given to Florida A&M University during its May commencement.
A gift that was a stock donation, supposedly valued at $237 million.
But Monday, FAMU got the results of an independent investigation. It found that $237 million gift was fraudulent.
"My initial reaction, I wasn't shocked; I was like this is nothing new."
A full report released Tuesday morning breaks down what happened.
It highlights four driving factors that led to the situation.
They include:
- Leadership involvement and influence from both then-President Larry Robinson and FAMU VP for University Advancement and Executive Director of the FAMU Foundation, Dr. Shawnta Friday-Stroud.
- The involvement of only a small group of individuals aware of the Donor and the Major Gift.
- The urgency to announce the Major Gift at a commencement ceremony
- And the Lack of Due Diligence and Understanding of Private Stock.
I asked students like Patrick and others what that money could've done if it was legit.
"We could have more parking lots; we could get more housing cause that's another issue."
But other Rattler students like, Dorien Paris, are just glad the investigation is over, and everyone can move on.
"School is about to start, it's enough pressure as it is. Everybody just needs to get their focus on what really matters and that's academic prowess and moving toward in our careers."
Paris also says.
"It was just a mistake; we can bounce back from it."
I reached out to the University Tuesday afternoon.
We were unable to have sit down interviews.
FAMU Board of Trustees Chair Kristen Harper, did put out a statement.
It says in part quote.
"Trustees will discuss the report, including its detailed findings and recommendations, during a Board meeting on Thursday, August 8. We will not be speaking about the next steps, individually or collectively, prior to that meeting."
For now, students say they're glad the independent investigation is over, and everyone can focus on the semester that's approaching soon.
"We all came to get an education at the end of the day."
Two changes were recommended to FAMU leadership given the results of this investigation.
First modifying FAMU Foundation Policies and Guidelines.
Second, adding clear language to FAMU Regulation, Chapter detailing the President's responsibility to the board of trustees. In Southwest Tallahassee, Terry Gilliam, ABC27.
