Like so many progressives, Jane Sanders took a pretty good thing and drove it into the ground. As president of Burlington College, she took out a bank loan of $10 million to purchase and buildings from the Catholic diocese of Burlington, VT. As part of the loan agreement, she promised $2.6 million in donations and grants. Problem is only about $675,000 was ever collected.
On 27 May, the college will close its doors and the institution go into receivership. Jane Sanders took a $200,000 severance package in 2014 and left the mess behind.
Most of the land will be developed for high end real estate. The diocese is out millions it was slated to use for their mission to the poor.
Jane Sanders is named in a request for a federal investigation for bank fraud.
https://assets.documentcloud.o...parent-Fraud-Sen.pdf
For more: http://www.nationalreview.com/...ancial-mismanagement
http://www.cnn.com/2016/05/16/...n-college/index.html