Sen. Bernie Sanders (I-Vt.) and his wife, Jane Sanders, the former president of Burlington College, have hired lawyers in the face of a federal investigation into bank fraud allegations related to a multimillion-dollar loan for the now-defunct liberal arts college.
On Saturday, CBS News confirmed that the couple had hired high-profile defense lawyers in light of the FBI probe looking into whether Jane Sanders falsified bank documents in 2010 in an attempt to secure a $10 million loan to expand Burlington College’s campus. That loan, which was obtained, was a factor in the school shuttering its doors in 2016 after it found itself unable to pay off its debt. Jane Sanders, who served as president of Burlington College from 2004 to 2011, has been accused of falsely inflating projected donor contributions in the loan application.
The federal probe, according to Politico magazine, may also be looking into whether Sen. Sanders used his political influence to put “improper pressure” on the bank to approve that loan. The outlet said the evidence for that seems “thin at best,” but the investigation has still prompted Sanders to hire Burlington lawyer Rich Cassidy. Jane Sanders has reportedly retained Larry Robbins, a Washington-based defense attorney.