Group calls for fraud investigation into Jane Sanders' land deals

[pnwmom]

18. The information provided the Church apparently contained false information.

How would the Church know that pledges Burlington College reported weren't real?

One of the pledges actually turned out to be a bequest -- not to be paid out in the next six years, but only upon the person's death (at some unknown date in the future).

http://vtdigger.org/2015/09/13/jane-sanders-overstated-donation-amounts-in-loan-application-for-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 were aware that the pledges were used to secure the loan.

Burlington College also cited a $1 million bequest as a pledged donation that would be paid out over six years, even though the money would only be available after the donor’s death.

Burlington College President Christine Plunkett leave a board of trustees meeting Friday. Photo by Laura Krantz/VTDigger
Burlington College President Christine Plunkett leave a board of trustees meeting just before her resignation in December 2014. File photo by Laura Krantz/VTDigger

People’s United Bank stipulated that at the time of the closing in December 2010, the school would provide a report as part of the loan agreement detailing “fundraising collections, commitments and grants equal to $2,270,000” and information that would satisfy the bank that pledges were “valid and enforceable commitments of the respective donors and granting parties.”