Building where Sanders' wife was college president is sold

A Vermont building that housed a now-defunct college where U.S. Sen. Bernie Sanders' wife was president has been sold at auction.

The Burlington Free Press reports People's United Bank took ownership of the former Burlington College property Wednesday for $3.1 million, about $650,000 less than the college has in debts.

Developer Eris Farrell hopes to buy the building.

Burlington College closed last year after struggling under the weight of a $10 million purchase of property and buildings from the Roman Catholic Diocese of Burlington it made in 2010 during Jane Sanders' presidency.

Federal investigators are looking into the finances behind the real estate deal put together by Jane Sanders.

A spokesman for Jane Sanders and the independent senator says the allegations that prompted the investigation were politically motivated attacks.

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Information from: The Burlington Free Press, http://www.burlingtonfreepress.com