FBI investigating Jane Sanders for alleged bank fraud: report

[Petrushka]

288. There seems to be more involved than Mrs. Sanders' involvement in the land deal.

Last edited Wed May 10, 2017, 02:12 PM - Edit history (1)

While doing a Bing search (trying to find out when investigating of the land deal actually began), I came across a Boston Globe article reporting the closure of the college, found the following information which, to me, casts a little more light on what was happening there after Mrs. Sanders left:

he school sold about 80 percent of the new property to a developer last year, but Burlington College remained on probation from its accrediting agency because of its financial situation.

Even after the school sold the property, the debt from the land purchase and the property taxes were “crippling,” Holm said on Tuesday. Yves Bradley, chair of the school’s board of trustees, called the debt “crushing.”

The school came close to bridging the financial gap but ended about $350,000 short, said Moore, the college president. The bank pulled the plug in April.

“We were three months financially short of making it successful. We had a strong incoming class,” she said. “We would’ve had a surplus next year.”

Bernie Sanders’ campaign defended his wife’s tenure at the school, saying she helped it climb out of debt and become accredited as a “masters-level institution.”

“. . . She left the college with a detailed plan for the future, none of which was implemented,” said Michael Briggs, spokesman for Sanders’ campaign, in the statement, which did not specifically address the land deal. “Mrs. Sanders has tremendous respect for both the current and past Burlington College faculty, staff and students and . . . is terribly disappointed with its closure.”






Edited to add: Here's a link to the Boston Globe article:

https://www.bostonglobe.com/metro/2016/05/27/burlington-college-closes-under-unwanted-spotlight/vQcws7acOi4uuo8FtPresM/story.html