Two years ago I posted on the financial shenanigans taking place at Burlington College, a small Vermont college where rich halfwits send their halfwit gits and where the president was none other than Jane Sanders.
Sanders, an entrepreneurial Venture Socialist, decided to harness the power of the marketplace to increase enrollment… with predictable results.
Jane Sanders, wife of Sen. Bernie Sanders, I-Vt., overstated donation amounts in a bank application for a $6.7 million loan the college used to purchase a prime 33-acre property on Lake Champlain in 2010.
She told People’s United Bank in 2010 that the college had $2.6 million in pledged donations to support the purchase of the former Roman Catholic Diocese of Burlington property.
The college, however, received only $676,000 in actual donations from 2010 through 2014, according to figures provided by Burlington College.
Two people whose pledges are listed as confirmed in the loan agreement told VTDigger that their personal financial records show their pledges were overstated. Neither was aware the pledges were used to secure the loan.
Jane Sanders did not respond to a request for comment Thursday asking whether she was subpoenaed or otherwise contacted by the FBI or the U.S. attorney in relation to her time as president of the college.
Projected increases in enrollment at the college never occurred, and as the college’s finances began to crumble, the school began to sell off its property to developer Eric Farrell. Farrell, who now owns the entire property — minus 12 acres he sold to the city for a park — recently received city approval for a massive residential development on the land.
And the school abruptly shut its doors in May 2016.
Now it seems that an FBI investigation has been underway for over a year. It is overseen by an assistant US attorney. And interviews have been conducted and subpoenas issued concerning Sanders’s land swindle:
Coralee Holm, who started working at Burlington College in 2012, was dean of Operations and Advancement when the school closed last May. A few months earlier — Holm could not recall the specific date — an FBI agent arrived with a subpoena, she said.
“They were asking for documentation about the fundraising that had occurred before the college had moved to its new location,” Holm said.
Holm said she provided the FBI with email communications from Sanders, who orchestrated the 2010 purchase of the college’s North Avenue campus, as well as electronic and paper files relating to pledged donations used to secure a $6.7 million bank loan used to finance the purchase.
I don’t have particularly high hopes for this. I can’t imagine the US attorney’s office not being stocked with dyed-in-the-wool socialists and I’d fully expect them to act in class solidarity. I’m just pleasantly surprised it got this far.
But one can’t help but wonder why the media studiously ignored what was a very obvious case of Sanders defrauding a lender and did not make mention of an FBI investigation they more likely than not knew was going on.