livingston
20×102mm Vulcan
Jane and Bernie Sanders Under FBI Fraud Investigation Begun During Obama Administration
Details are beginning to surface of a fraud investigation that began in 2016 as a result of complaints about Jane Sanders and her role in obtaining multi-million-dollar loans for a now defunct (closed in May ’16) Burlington University. Many people might remember the origins of this story which began long before the presidential primary season last year.
BACKSTORY – At the end of 2010, Mrs. Jane Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese, which put the land up for sale to help cover the costs of a $17 million sexual-abuse settlement
As Ms. Sanders pursued financing for the land acquisition, she repeatedly said that Burlington College had received more than $2 million in fundraising commitments and pledges, according to numerous records. However, in fiscal year 2011, Burlington College raised only $279,000, though the college had earlier claimed to have secured $1.2 million in confirmed pledges.
The college almost immediately fell short on its financial obligations as the fundraising pledges and commitments Ms. Sanders cited in loan agreements never materialized. Less than a year after leading Burlington College into massive debt, Ms. Sanders resigned, taking with her a $200,000 severance package. The college was forced to close in 2016.
In January 2016, just prior to the college closing, Vermont lawyer Brady Toensing, who is also vice chair of the Vermont Republican Party, wrote a letter on behalf of Catholic parishioners to the U.S. attorney in Vermont, as well as the inspector general of the Federal Deposit Insurance Corporation (FDIC), seeking a probe into whether Ms. Sanders fraudulently secured the loans. The U.S. attorney, Eric Miller, confirmed that he had received the parishioners’ letter but would not comment on the status of any investigation.
CBS reports today that an FBI fraud investigation did actually begin, and now Jane and Bernie Sanders have hired a high powered legal firm to defend themselves against any potential criminal or civil charges.
Jane and Bernie Sanders Under FBI Fraud Investigation Begun During Obama Administration…
Details are beginning to surface of a fraud investigation that began in 2016 as a result of complaints about Jane Sanders and her role in obtaining multi-million-dollar loans for a now defunct (closed in May ’16) Burlington University. Many people might remember the origins of this story which began long before the presidential primary season last year.
BACKSTORY – At the end of 2010, Mrs. Jane Sanders took out $10 million in loans on behalf of Burlington College to purchase a 32-acre swathe of land from the Roman Catholic diocese, which put the land up for sale to help cover the costs of a $17 million sexual-abuse settlement
As Ms. Sanders pursued financing for the land acquisition, she repeatedly said that Burlington College had received more than $2 million in fundraising commitments and pledges, according to numerous records. However, in fiscal year 2011, Burlington College raised only $279,000, though the college had earlier claimed to have secured $1.2 million in confirmed pledges.
The college almost immediately fell short on its financial obligations as the fundraising pledges and commitments Ms. Sanders cited in loan agreements never materialized. Less than a year after leading Burlington College into massive debt, Ms. Sanders resigned, taking with her a $200,000 severance package. The college was forced to close in 2016.
In January 2016, just prior to the college closing, Vermont lawyer Brady Toensing, who is also vice chair of the Vermont Republican Party, wrote a letter on behalf of Catholic parishioners to the U.S. attorney in Vermont, as well as the inspector general of the Federal Deposit Insurance Corporation (FDIC), seeking a probe into whether Ms. Sanders fraudulently secured the loans. The U.S. attorney, Eric Miller, confirmed that he had received the parishioners’ letter but would not comment on the status of any investigation.
CBS reports today that an FBI fraud investigation did actually begin, and now Jane and Bernie Sanders have hired a high powered legal firm to defend themselves against any potential criminal or civil charges.
Jane and Bernie Sanders Under FBI Fraud Investigation Begun During Obama Administration…
