The FBI is getting closer and closer to the truth about Bernie and Jane Sanders’ corruption and deceit with the Burlington College’s finances and donors.
All of the answers to the investigation lay in a cryptic three-page spreadsheet, which contains a list of confirmed and potential donors to the college’s 2010 capital campaign using each donor’s initials. This very document helped Burlington College and then-president Jane Sanders to finance the purchase of a new $10 million lakefront campus.
However, now at least four of the donors listed on the document are questioning the listed amount of their donations. The spreadsheet is now a critical piece of the ongoing FBI investigation to figure out whether the donations were exaggerated to mislead the bank.
One former member of Burlington College’s board of trustees, David V. Dunn, said the board began to doubt the veracity of some of the capital campaign donations in the summer of 2011, and he says the doubts led to the removal of Sanders as president that fall. Dunn said the college’s finance office indicated that actual donations were less than what was originally represented.
A second former trustee, Jonathan Leopold, denied the account and said the board had no doubts about the approximately $2.6 million in listed capital campaign pledges. Leopold said the board was more concerned that additional fundraising efforts had stalled.
The college needed to raise $6 million to support the debt from the $10 million property purchase. College leaders also planned to renovate the spacious new campus, which would attract new students and their tuition dollars. The plan was to double enrollment.
“We didn’t have a strong history of capital campaigns, and we didn’t have an alumni base that lent itself to a capital campaign, so we knew that it was going to be a big lift,” said Leopold, who served on the college’s board of trustees for about six years.
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