Florida Gulf Coast University President William Merwin resigned yesterday, citing "a personal relationship with a female faculty member." Students, surprised by the resignation, had quickly concocted rumors to explain it, the Naples News reports. "We heard he stole money to give to poor kids," one student said. Merwin told the Fort Myers News-Press he made the decision after learning he'd been caught. "Someone said they happened to see me [with the woman]," he told the paper. "So I told my wife. She was devastated." Since taking the job in 1999, Merwin oversaw growth from a student body of 2,000 to 8,000, according to the Naples News.