Bad News Bernie

Bernie Sanders and his wife are being investigated by the FBI for bank fraud.

Sanders and his wife have been trying to ignore the federal investigation since reporters for VTDigger, an online publication, confirmed the FBI’s involvement in April. The original request for an investigation into the potential bank fraud did indeed come from Brady Toensing, an attorney who chaired Trump’s Vermont campaign, and whose January 2016 letter to the U.S. attorney for Vermont put federal agents on the trail. (Toensing, in an email to Politico Magazine, notes, “The investigation was started more than a year ago under President Obama, his Attorney General Loretta Lynch, and his United States Attorney, all of whom are Democrats.”)

Possibly this was used as leverage against Sanders during the campaign?  You’ve got to wonder.

On January 10, 2016, in the midst of Sanders’ sudden stardom—just weeks before the votes in Iowa and New Hampshire—the U.S. attorney for Vermont was sent a “Request for an Investigation into Apparent Federal Bank Fraud.”

Backed by six exhibits and a dozen documents, the four-page letter described how Jane Sanders had “orchestrated” the purchase of 33 acres along Lake Champlain in Burlington, Vermont’s largest city, where her husband had minted his populist political brand as mayor. The deal closed in 2010, when the senator’s wife was president of Burlington College, a tiny, obscure, nontraditional school that always seemed to be struggling for students and funds. The letter alleged that to secure a $10 million loan and execute her grand plan to expand the college, Jane Sanders had falsified and inflated nearly $2 million that she’d claimed donors had pledged to repay the loans.

Sanders had “successfully and intentionally engaged in a fraudulent scheme to actively conceal and misrepresent material facts from a federal financial institution,” the letter alleged. It pressed for a federal investigation into potential bank fraud.

Jane Sanders’ tenure as president of Burlington College is quite interesting.  You should read the whole thing.

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