Trustees said they later discovered that many of the donors had not agreed to the amounts or the timing of the donations listed on documents Sanders provided to a state bonding agency and a bank. That led to her resignation in 2011 amid complaints from some trustees that she had provided inaccurate information, former college officials said.

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The land deal, the officials said, became a financial albatross for the 160-student school, contributing to its closure in 2016.

Jeff Weaver, who served as campaign manager for Bernie Sanders during his 2016 presidential campaign and remains an adviser, said Jane Sanders had been told “in recent days” that the land deal is no longer under investigation.

“Jane Sanders has been informed that the U.S. Attorney in Vermont has closed its investigation of the Burlington College land deal and has decided not to bring charges of any kind,” Weaver said in a statement. “Jane is grateful that the investigation has come to an end. As she has said from the beginning she has done nothing wrong, and Jane is pleased that the matter has now come to a conclusion.”

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Kraig LaPorte, a spokesman for the U.S. attorney’s office in Vermont, would not confirm or deny the existence of an investigation, in keeping with office policy.

While both Bernie Sanders and Jane Sanders had insisted from the outset that she did nothing wrong, the case loomed as a potential liability if the senator makes another run for the Democratic presidential nomination in 2020.

The senator, who easily won reelection last week, has not signaled whether he will run for president. In a book published this year, Weaver argued that Sanders would be the most likely candidate to topple President Trump.