Under Jane Sanders’ leadership, Burlington College overstated pledged contributions by about $2 million in its presentation to the state financing agency and the bank, Toensing said in his letter to Miller, the U.S. attorney for Vermont, and Gibson, FDIC’s inspector general.

…To secure the loan, she assured People’s United Bank and the state bonding agency that the college had $2.6 million in pledges, according to public documents Toensing obtained through the public records law and included in his letter to investigators. The $2.6 million was to shore up confidence in the school’s ability to pay back the loan.

However, the college reportedly collected $279,000 by the end of fiscal 2011 and had a total of $676,000 by 2014—almost a $2 million shortfall in confirmed donations and grants.

…Burlington College, unable to sustain the debt, closed in May 2016.

4 Keys to Understanding Probe of Loan Helping Bernie Sanders’ Wife

Whether there was any basis to the accusations or not, HRC would have been pilloried for being associated with such a dark cloud hanging around their head. Interesting to see how little media-space have been devoted to this story.