John Minchillo / AP
In this July 28, 2016 file photo, Sen. Bernie Sanders, I-Vt. and his wife Jane walk through downtown in Philadelphia during the final day of the Democratic National Convention. Sanders and his wife Jane O’Meara Sanders have hired lawyers in the face of federal investigations into the finances of the now-defunct Burlington College, which closed last year due, many feel, to debts incurred when Jane Sanders entered into an ill-advised real estate deal.
Tuesday, Aug. 1, 2017 | 1:17 a.m.
BURLINGTON, Vt. — An economic development official says a financial services company had considering buying some of a now-defunct college's lakefront property while U.S. Sen. Bernie Sanders' wife was president of the Vermont school.
Burlington College closed last year after struggling under the weight of its $10 million purchase of property and buildings from the Roman Catholic Diocese of Burlington in 2010 during Jane Sanders' presidency.
Federal investigators are looking into the finances behind the real estate deal put together by Jane Sanders.
Frank Cioffi, president of the Greater Burlington Industrial Corporation, tells the Burlington Free Press that the sale of some of the land to a financial services company fell through because the site was too small for the company's needs.
A developer later purchased the land for a housing development.
