- Associated Press - Friday, December 22, 2017

NEWPORT NEWS, Va. (AP) - A Virginia airport commission has agreed to accept a $2 million payment from a bank and law firm to settle a lengthy dispute over a questionable loan to a now-failed airline.

The Daily Press reports that the Peninsula Airport Commission agreed to the payment from TowneBank and Jones, Blechman, Woltz & Kelly over a $5 million loan guarantee in 2014 to a startup airline at Newport News/Williamsburg International Airport.

The loan guarantee came under fire after a series of articles by The Daily Press, prompting a state audit and the dismissal of some officials.

Virginia State Police and federal authorities are also investigating.

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Information from: Daily Press, http://www.dailypress.com/

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