Former People Express Executive Sentenced To 2 Years In Federal Fraud Case
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February 24, 2020 - by PETER DUJARDIN for dailypress.com
The founder of a failed startup airline that operated briefly out of Newport News/Williamsburg International Airport five years ago was sentenced Thursday to two years in prison on federal fraud charges.
Michael Morisi, 59, of Suffolk — who founded People Express Airlines — got two years behind bars for wire fraud and filing a false income tax return.
U.S. District Judge Arenda L. Wright Allen ordered that the sentences be run concurrently, and allowed Morisi to report for prison later. She also ordered him to pay $500,312 in restitution — to W.M. Jordan Co. (an early investor into the airline), the airport, the IRS and others.
Morisi was arrested in May 2019, a day after former Airport Executive Director Ken Spirito was arrested on charges stemming largely from a $5 million airport loan guarantee to People Express.
In June 2014, the Peninsula Airport Commission signed a deal in which...
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