Federal grand jury indicts Florida man accused of defrauding Allen University

COLUMBIA, S.C. (WOLO)– A federal grand jury in Columbia has indicted a Florida man for defrauding Allen University, the African Methodist Episcopal Church, and other victims of over $6 million.

The indictment alleges that 66-year-old Lamonica Valrie devised a scheme to defraud the university and the AME Church through his business entity “50 plus 1 l-l-c.”

In august 2023, Valrie partnered with AU and promised to build a football stadium at no cost to the university.

Authorities say Valrie did not have sufficient funding sources to develop, construct, or build a stadium.

In January 2024, he secured an amendment to the agreement obligating AU to pay him up to $3 million to expedite the construction.

Instead, Valrie spent the funds on personal luxury purchases.