Bernie Sanders and his wife Jane Investigated for Allegations of Bank Fraud
Looks like Vermont Senator Bernie Sanders is about to “feel the burn!” Bernie and his wife Jane have hired a legal-defense team to to deal with allegations of bank fraud.
The fact that Bernie’s wife Jane may have used her husband’s influence to obtain an expansion loan was bought out during the Presidential election campaign. Main stream media sources have reported that the couple has hired separate attorneys as they face a probe led by the Federal Bureau of Investigation on allegations of bank fraud.
It is alleged that Democratic Senator Sanders used his influence to help his wife obtain a loan for the expansion of the now belly-up Burlington College, while she was president. Ok, here is the run down of what has been reported to have happened:
According to the emails of the FBI Justice’s Probe into the Burlington College loan finances, in which Jane Sanders was the President, Sanders overstated pledged donations she used to apply for the loan so that the school could purchase its former North Avenue campus.
Jane Sanders 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 reported to People’s United Bank in 2010 that the college had $2.6 million in pleged donations to support the purchase for the former Roman Catholic Dioces of Burlington property.
The dirty illegal fact of the matter was that Sanders only received $676,000 in actual donations form 2010 through 2014, according to figures documented by Burlington College. And the two people whose pledges are listed as confirmed in the loan agreement told media sources that their personal financial records show that their pledges were overstated. Neither were they aware that their pledges were used to secure the loan.
When inquired about the matter, Jane Sanders did not respond. Projected increases in enrollement at the college, which were also a component of the loan, never occurred. The college’s finances began to crumble, and the school began selling off its property to developer, Eric Farrell. Farell, who is expected to own the entire property minus 12 acres he sold to the city for a park, received city approval for a massive residential development on the land.
This FBI probe into the Sanders seems very juicy in light of their impressive lakefront home, and it’s possibly alleged affiliation with the missing funds at Burlington College. Hold on to your seats folks and let’s see where the paper-trail leads us. From the Sanders’ nice house in Burlington, their row house in D.C., to their shabby cabin on Lake Champlain, who knows where the paper-trail will lead us in this FBI probe?