Summary
Stephanie Hockridge, a former TV news anchor from Phoenix, was sentenced to 10 years in prison for her role in pandemic loan fraud. She and her husband, through their company Blueacorn, processed over $63 million in fraudulent Paycheck Protection Program loans. They were charged with creating fake documents to get larger loans and taking kickbacks.
Key Facts
- Stephanie Hockridge, a former news anchor, was sentenced to 10 years for pandemic loan fraud.
- She and her husband created a company in April 2020 to help small businesses get Paycheck Protection Program (PPP) loans.
- Hockridge and others made fake documents to secure larger loans.
- Over $63 million in fake PPP loans were processed by Hockridge and her team.
- They charged borrowers kickbacks, which are illegal payments for securing loans.
- Hockridge was found guilty of conspiracy to commit wire fraud.
- Her husband, Nathan Reis, pleaded guilty and will be sentenced in December.
- The fraud was part of larger efforts to misuse COVID-19 relief funds in the U.S.
