Stephanie Hockridge, a former Phoenix TV news anchor, has been sentenced to 10 years in federal prison for her central role in a sprawling COVID-19 relief fraud scheme. She also must pay nearly $64 million in restitution.
Hockridge co‑founded the fintech company Blueacorn with her husband, Nathan Reis, during the pandemic. Their business reportedly helped applicants submit Paycheck Protection Program (PPP) loan applications—but prosecutors revealed that many of those applications were based on fabricated documents, including false payroll records, tax statements, and bank information.
As part of the scheme, Hockridge and her partners offered a “VIPPP” service to “coach” people on how to game the system and maximize their loans.
A jury found her guilty of conspiracy to commit wire fraud (she was acquitted of several other counts). After sentencing, she is set to report to prison on December 30, and will serve her term in a minimum-security facility in Bryan, Texas, which is known to house other high-profile inmates.
Her husband, Reis, struck a plea deal and faces his own sentencing.
