"Bernie Sanders & Wife Under FBI Investigation For Bank Fraud"

"As we noted just over a year ago, Burlington College, a small Vermont private school once led by the wife of Democratic presidential candidate Bernie Sanders, said Monday it will close later this month, citing "the crushing weight" of debt incurred during the presidency of Jane Sanders who was in charge of the college until 2011." (Link to full ZeroHedge post)

According to WaPo, the college which enrolled 224 students as of fall 2014, said it faced financial troubles connected to its 2010 purchase of 32 acres of lakefront property from the Archdiocese of Burlington, according to the Burlington Free Press. The college said it had sold property to reduce its debt to a manageable level, but it was placed on probation in 2014 by its accrediting agency and it faced cash flow problems due to the imminent loss of a line of credit...

Jane Sanders stepped down in 2011 amid a dispute with the college’s board. After her husband launched his presidential campaign, news stories emerged that scrutinized her role in a loan application for the lakefront ­real-estate purchase. Jane Sanders has dismissed those stories as politically motivated and said the issue was not a factor in her departure from the college. 

A Burlington College news release issued this morning called these financial hurdles insurmountable at this time. 

And now, as Politico Magazine first reported the Sanders have hired lawyers to defend them in the probe. 

Sanders' top adviser Jeff Weaver told CBS News the couple has sought legal protection over federal agents' allegations from a January 2016 complaint accusing then-President of Burlington College, Ms. Sanders, of distorting donor levels in a 2010 loan application for $10 million from People's United Bank to purchase 33 acres of land for the institution. 

According to Politico, prosecutors might also be looking into allegations that Sen. Sanders' office inappropriately urged the bank to approve the loan.

Link to more...