A former television news anchor from Arizona will spend a decade in federal prison after a fraud scheme.
Stephanie Hockridge was sentenced on November 21, according to a press release from the U.S. Department of Justice.
The release describes Hockridge as a "co-founder of a lender service provider" who "was sentenced to 10 years in prison for participating in a scheme to fraudulently obtain over $63 million in Paycheck Protection Program (PPP) loans guaranteed by the U.S. Small Business Administration (SBA) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act."
According to AZ Family, Hockridge was previously a news anchor for a television station in Phoenix. She was accused of participating in the scheme "alongside her husband" Nathan Reis, the news site reported. Reis will be sentenced in December, according to AZ Family.
Hockridge's Facebook page is still active and describes her as an "ABC15 News Anchor and Reporter," although she no longer holds that position. She has not posted on the page since 2020.
The defendant "was also ordered to pay over $63 million in restitution," wrote the DOJ.
According to evidence presented at trial, Stephanie Hockridge, also known as Stephanie Reis, 42, of Rio Grande, Puerto Rico, and previously of Arizona, "co-founded Blueacorn in April 2020, purportedly to assist small businesses and individuals in obtaining PPP loans," the DOJ wrote.
"To get larger loans for certain PPP applicants, Hockridge and her co-conspirators fabricated documents, including payroll records, tax documentation and bank statements. Hockridge and her co-conspirators charged borrowers kickbacks based on a percentage of the funds received," the release added.
"As part of the scheme, Hockridge and others offered a personalized service to their clients called 'VIPPP' to help potential borrowers complete PPP loan applications," the release notes.
"Hockridge recruited co-conspirators to work as VIPPP referral agents and coach borrowers on how to submit false PPP loan applications," DOJ alleged. "To get more kickbacks from borrowers and a higher percentage of lender fees from the SBA, Hockridge and her co-conspirators submitted PPP loan applications that they knew contained materially false information. In total, Hockridge and her coconspirators processed over $63 million in fraudulent PPP loans."
On June 20, a jury found Hockridge "guilty of one count of conspiracy to commit wire fraud," noted the release.