Florida Rules Out Investigation of Philanthropist

Barry Kaye, a prominent donor in Boca Raton, Fla., who donated $17-million to Florida Atlantic University, will not be investigated as part of a case involving a company that allegedly defrauded older adults, reports the South Florida Sun-Sentinel.

Coventry LLC, a company that purchases life-insurance policies from senior citizens, is under investigation by the state’s Department of Financial Services. A report released by the Office of Insurance Regulation containing information submitted by Coventry linked Mr. Kaye and his son, Howard, to the company, stating that they were improperly paid $800,000.

The company has since admitted that it submitted incorrect information, saying that Mr. Kaye had no connection to any improprieties.

Mr. Kaye said, “I knew from the beginning I was not involved in this particular situation, and it has caused myself and my family great consternation. I am very thankful the situation has been resolved and hopefully my life can go back to normal.”