Scam Artist Targets HBCU with Stadium Fraud | Columbia News

A 58-year-old man named Lamonica Valrie is facing federal charges for allegedly swindling Allen University and the AME Church out of millions meant for a new football stadium—instead spending it on supercars, jewelry, a yacht, and a luxury rental home. Valrie’s company, “50 Plus 1,” funneled over $2 million in fees and payments from the school and another $154,000 from the church, while also allegedly defrauding an architectural firm of $4.3 million in loans and $500,000 for design work. Arrested in Florida, he’s now in federal court in South Carolina on a $100,000 bond, with potential prison time of up to 20 years if convicted on money laundering and wire fraud charges. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Sources:https://www.wistv.com/2026/09/15/man-indicted-accused-defrauding-allen-university-out-millions-meant-football-stadium/ More coverage & latest updates:https://sources.thednn.ai/2b2f72c6ad9d33ba Report issues to [email protected].