Can you feel “The Bern”? Burlington College did when Bernie Sanders’ wife bankrupted it and walked away with a big severance package.
The election is really getting interesting. Hillary is the subject of a very hot FBI investigation that has the potential to land a normal person in prison forever, and now it looks like our “Democratic Socialist” buddy, Bernie Sanders, is under the gun as well. Well, his wife is.
If Democrats didn’t have double standards they wouldn’t have any standards at all.
According to Jonna Spilbor, an attorney who reviewed the documents for TheDCNF, “the college APPEARS to have committed a pretty sophisticated crime” by exaggerating donor commitments in order to secure financing for the deal.
Sanders’ role in bringing Burlington College to the brink of the abyss has been known for years. Research by TheDCNF, however, indicates that Sanders may not just be guilty of bad judgment, but potentially criminal activity enabled by Vermont officials willing to implicitly trust the wife of a sitting senator.
The story gets even better.
Founded in 1972 in a person’s living room, the school has consistently had fewer than 300 students. Accordingly, for most of its history it has lacked much of a campus. The school also caters to a relatively niche market interested in programs such as its relatively rare study-abroad program in Cuba.
Jane Sanders hoped to change that through an extremely ambitious expansion effort. A new prime property came onto the Burlington market in 2010: A 32-acre plot on the shores of Lake Champlain owned by the Catholic Diocese of Burlington, which was being sold off to help pay for a $17 million settlement of several sex-abuse lawsuits. The property included one large building– a three-story structure that once served as an orphanage.
Sanders hoped that the former orphanage could be converted into the main structure of a new, expanded campus, which could then provide the space needed for a huge expansion of the college from less than 200 full-time equivalent (FTE) students to over 400.
Such a prime property, though, had a high cost: Over $10 million. That was a great deal of money for a school with essentially no endowment and an annual budget of about $4 million.
So Jane Sanders got banks to pony up $10 million to “expand” Burlington College from 200 to 400 students. So they could go to Cuba. Probably to study the successes of Socialism.
Here’s the bottom line.
Even so, she said, “the college APPEARS to have committed a pretty sophisticated crime. Whether prosecutors will do anything about it, is a whole other story.”
Laws are for little people don’t you know. Just ask Bernie.
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