Bernie and Jane Sanders are both under FBI investigation for bank fraud as most know. Some might not know that there was an audit.
The audit shows Jane Sanders funneled hundreds of thousands of dollars from Burlington College to family and friends despite the school’s limited resources. Bernie, for his part, is accused of pressing the bank to give the loans to the college.
The poorly-backed loans ended up bringing the little hippie school down.
If they didn’t do anything illegal, the Sanders do seem ethically and financially challenged. The duo serve as good examples of how Socialists handle finances.
We dodged a bullet this past election.
The complaint which led to the FBI probe came in January 2016. It was filed by Donald Trump’s Vermont campaign chair, lawyer Brady Toensing, alleging that Mrs. Sanders lied on a 2010 loan application from People’s United Bank for $10 million to expand Burlington College’s campus. She was the school’s president at the time.
Toensing is from Burlington. To claims it’s a political witch hunt, Toensing says, “It was started under President Obama, his Attorney General, and his U.S. Attorney, all of whom are Democrats,” Toensing said.
“My only hope is for a fair, impartial, and thorough investigation,” he added.
Sanders “successfully and intentionally engaged in a fraudulent scheme to actively conceal and misrepresent material facts from a federal financial institution,” Toensing’s letter read.
Sanders claimed the institution had $2.6 million in pledges for the loan when it actually only received $676,000 worth of donations from 2010 to 2014, according to the letter.
Bernie is accused of pressuring the bank to give the loans
Still in early January, a second letter was sent to the U.S. attorney for Vermont and the Acting Inspector General for the FDIC, accusing Bernie of pressuring the bank to accept the loan.
The unpopular former president of Burlington College was eventually forced out by some angry colleagues over her mishandling of funds, which caused the school to go bankrupt last year.
After she was forced out, Jane Sanders extracted a “severance package from the college of more than $200,000.
There was an audit!
It states further, “…during her tenure, the audit reports show Ms. Sanders steered hundreds of thousands of dollars of the nonprofit college’s limited resources to her family and friends.”
Jane Sanders was hired as president in 2004. While she led the school, it paid six-figure sums to her daughter and the son of a family friend.
And between 2009 and 2011, the school also spent more than $77,000 at a resort in the Bahamas owned by a board member who was also a friend and trusted adviser to Bernie Sanders, the college’s tax filings show.
Court records show students went on trips there, snorkeling and taking boat tours.
How the Socialist Sanders operate
Bernie and Jane took advantage of his position to broker deals for his family soon after he was elected. Jane collected money for ad placement services. Her daughter, Bernie’s stepdaughter, drew a salary from the campaign.
On a personal level, Bernie and Jane are doing to themselves what Jane did to the college. They spent more than their reported net worth for a third house on a lake last August.
In early May the FBI was interviewing the alleged donors to the college, checking on her story. Since then Bernie and Jane have hired prominent attorneys.
The attorneys alone could bankrupt these two.
Bernie was interviewed by Chuck Todd Sunday. Todd didn’t ask Bernie one question about the FBI probe.
— 💎STOCK MONSTER💎 (@StockMonsterUSA) June 25, 2017