Sen. Bernie Sanders and his wife, Jane Sanders, have reportedly hired lawyers

Amid a federal investigation into allegations of fraud connected to a bankrupt college where Jane Sanders was once president, according to a report. 

This week, Politico Magazine said the couple have obtained legal counsel amidst a Federal Bureau of Investigation (FBI) investigation into whether Jane Sanders fraudulently obtained a bank loan for the now defunct Burlington College in Vermont. Additionally, investigators are probing whether the Vermont senator’s office pressured the bank to approve the loan, Politico Magazine added.

While the Sanders’ have largely tried to downplay the investigation, the pair has now lawyered up, Politico reported, retaining well-connected Burlington attorney, Rich Cassidy. Also part of the legal team is Larry Robbins, a noted Washington-based defense attorney who represented I. Lewis “Scooter” Libby, the publication stated.

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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 pledged donations to support the purchase for the former Roman Catholic Diocese 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.

Well, we will certainly keep an eye on this story. Just putting this out there, but this seems pretty juicy in light of their impressive lakefront home, and it’s possibly alleged affiliation with the missing funds at Burlington College (the now bankrupted and closed college).