Developer Indicted After HBCU Paid Millions for a Field That Was Never Built
Allen University, a South Carolina HBCU in Columbia, secured land off of Two Notch Road to build a brand-new football stadium. To bring the vision to life, they hired the president of 50 Plus 1 L.L.C. — a self-proclaimed sports development firm — paying millions upfront for labor and supplies. Today, that stadium is non-existent. Instead, federal prosecutors say the developer spent the cash to fund his lavish lifestyle.
A federal grand jury indicted Lamonica “Monti” Valrie, 66, on four counts of wire fraud and money laundering, the U.S. Attorney’s Office, District of South Carolina announced on Tuesday.
Prosecutors allege that in August 2023, Valrie promised to build the private HBCU a football stadium at no cost in exchange for development rights on other university land, as reported by the Post and Courier.
However, he did not have sufficient funding to develop, construct or build a stadium, according to Fox8 WGHP. Citing the need to expedite construction to have a playable field ready for the 2024 season, Valrie secured an amendment to the agreement in January 2024.
Under the amended deal, Allen University was obligated to pay, wait for it, up to $3 million to speed up development, WLTX 19 reported. The money could be used only to advance the project, prosecutors said. It included a $500,000 lump sum as an initial expedite fee, plus $70,000 a month.
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Unsealed documents in a Florida federal court say Valrie secured another $154,000 from African Methodist Episcopal (AME) Church — the HBCU’s parent organization — as reported by WIS-TV.
Fast forward to September 2026: the land is just as bare as the day Allen University purchased it. And the funds? Feds say Valrie pocketed them.
According to the indictment, Valrie didn’t spend the cash on building the football stadium. He allegedly spent it on luxury goods, including a yacht charter, jewelry, exotic supercars and a “high-end” rental home in South Florida.
Valrie was arrested in Florida and made his initial appearance in federal court in the Southern District of Florida on Tuesday, prosecutors said. He was granted a $100,000 bond and will make future court appearances in South Carolina. If convicted, he faces up to 20 years in federal prison. The charges are accusations, and Valrie is presumed innocent unless and until proven guilty in court.
The stadium deal was initially celebrated as AU’s football team would finally have a field of their own after playing at a local high school since its football program was restarted in 2018.
“Acquiring this land marks a pivotal moment in our journey to build a groundbreaking athletics facility,” Allen University Director of Athletics, Jasher Cox, said in a statement about the purchase. “With this strategic investment […] we are laying the foundation for a space where athletic dreams will come to fruition, and where the community will find a vibrant hub for excellence at Allen University.”
After AU secured the land for their own stadium in 2023, they still don’t have one three years later, and millions of cash have vanished.
