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A Florida developer accused of defrauding Allen University and the African Methodist Episcopal Church over a proposed football stadium is scheduled to appear in federal court in South Carolina as prosecutors detail how the project unraveled.
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Lamonica “Monti” Valrie, 66, of Hollywood, Florida, was indicted on three counts of money laundering and one count of wire fraud. Prosecutors allege he used his company, 50 Plus 1 Sports, to obtain more than $3 million from Allen and related entities while promising to build a stadium at no cost to the historically Black university.
According to the , Allen entered an agreement with Valrie in August 2023. The proposed development included a football stadium, practice and softball fields, apartments and retail space.
In exchange for developing the property, 50 Plus 1 would receive revenue from the broader project, with Allen entitled to a share of the proceeds, according to federal prosecutors.
The agreement later changed. Prosecutors allege Allen agreed to pay up to $3 million to accelerate construction and have a playable field ready for the 2024 football season. The university paid Valrie a $500,000 lump sum and $70,000 per month, while the AME Church provided about $154,000 in stadium-related funds, according to court documents.
The stadium was never built. The land purchased for the project remains vacant.
Federal prosecutors allege Valrie used nearly $1.8 million in stadium-related payments for personal expenses, including luxury vehicles, jewelry, designer goods, a yacht charter and an expensive South Florida rental home. A later court filing described luxury handbags, watches and exotic-car rentals allegedly tied to the spending.
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Documents obtained by WIS show the original 2023 agreement placed responsibility for financing and building the project on 50 Plus 1. Emails later show Allen officials discussing a $3 million payment to speed up construction and meet a new deadline.
Former Allen trustee Karol Widemon Montgomery told WIS she was surprised by the government’s description of the payment, saying former President Ernest McNealey had acknowledged that he offered the money. Montgomery also said the board should have reviewed the contracts more closely before approving the deal.
The case has added to scrutiny surrounding Allen’s leadership and finances. Montgomery separately filed a federal lawsuit against university and church officials, alleging financial misconduct, abuse of power and racketeering. Those allegations are separate from the criminal case against Valrie.
Valrie has denied the allegations. He was arrested in Florida, released on bond and is expected to appear in federal court in South Carolina on Sept. 29.
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If convicted, he could face up to 20 years in federal prison.