Former Phoenix TV Anchor Sentenced for Loan Fraud
Stephanie Hockridge, a former news anchor for Phoenix’s ABC15, received a 10-year prison sentence following her conviction in a COVID-19 relief loan fraud case. A federal judge in Fort Worth, Texas handed down the sentence on November 21 for conspiracy to commit wire fraud.
Hockridge and her husband, Nathan Reis, were charged in November after authorities uncovered their scheme involving fraudulent loan applications. The couple founded BlueAcorn in April 2020, a company used to file improper Paycheck Protection Program (PPP) loans.
Prosecutors said they applied for relief funds they were not eligible for and helped other companies submit false applications. According to court records, Hockridge sent a text stating, “This is us trying to apply for free money — when we don’t quite qualify. lol.”
BlueAcorn received kickbacks based on the amount of PPP funding disbursed from the fraudulent loans. A House Select Subcommittee report highlighted their focus on large loan applications because these generated higher fees for the company.
Hockridge’s Slack messages, revealed in congressional findings, indicated she prioritized closing larger loans first despite ethical concerns. She wrote, “Closing these monster loans will get everyone paid,” underscoring the scheme’s financial motivations.
A federal jury found Hockridge guilty in June. Her defense described her actions as an attempt to support small businesses during a difficult period, though the court did not accept this justification. They also argued she was misled by others involved.
Reis pleaded guilty in August to conspiracy and wire fraud charges and is awaiting sentencing scheduled for December. The court ordered Hockridge to pay nearly $64 million in restitution and permitted her to self-surrender by the end of December.
This high-profile case highlights ongoing federal efforts to crack down on coronavirus relief fraud. Authorities continue to monitor fraudulent schemes exploiting emergency financial programs aimed at helping businesses during economic crises.
