Insurance magnate Barry Kaye unable to fulfill $16 million pledge to FAU - Scott Travis, Sun-Sentinal

Former insurance magnate Barry Kaye has told Florida Atlantic University fundraisers he is unable to fulfill a $16 million pledge, the largest in FAU's history.Kaye, 81, said Tuesday that he would write the school a final $1 million check, bringing his total gift to $5 million, and he asked to take his name off the College of Business. FAU accepted Kaye's revised agreement, which he blamed on economic conditions, according to a letter from Randy Talbot, executive director of the FAU Foundation.