A Florida man has been indicted on federal charges after prosecutors allege he defrauded Allen University, the African Methodist Episcopal Church, and other victims of more than $3 million in a scheme involving plans to build a football stadium at the Columbia historically Black university. Lamonica "Monti" Valrie, 66, of Hollywood, Florida, was charged in a four-count federal indictment with wire fraud and money laundering, according to the U.S. Attorney's Office for the District of South Carolina.
Allegations of Financial Mismanagement
The indictment alleges that Valrie used his business, 50 Plus 1 L.L.C., to enter into an agreement with Allen University in August 2023 to build a football stadium at no cost to the university. Prosecutors claim Valrie did not have sufficient funding to develop or construct the stadium. In January 2024, according to the indictment, Valrie secured an amended agreement that required Allen University to pay him up to $3 million to expedite construction and provide a playable field by the start of the 2024 football season.
Under the agreement, Valrie received a $500,000 lump-sum payment from the university, along with $70,000 per month to expedite the project. The indictment alleges that this money was supposed to be used to advance construction of the stadium. However, no stadium was ever built. Instead, prosecutors allege Valrie used the funds for personal expenses, including exotic sports cars, jewelry, luxury goods, a yacht charter, and a high-end rental home in South Florida.
Additional Fraud Charges
The indictment also alleges that Valrie defrauded the AME Church of approximately $154,000 in other stadium-related funds. The case was investigated by the FBI's Columbia Field Office. Assistant U.S. Attorney T. DeWayne Pearson is prosecuting the case on behalf of the federal government, as this newspaper reported in Florida AG Probes Fauci for Fraud Despite Pardon.
Legal Proceedings and Potential Penalties
Valrie was arrested in Florida and made an initial appearance in federal court in the Southern District of Florida. He is expected to have a future court appearance in the District of South Carolina, where Allen University is located. If convicted on all counts, Valrie faces a maximum sentence of 20 years in federal prison.
The charges contained in the indictment are allegations. Valrie is presumed innocent unless and until he is proven guilty beyond a reasonable doubt in court.
