Former News Anchor Receives 10-Year Prison Sentence for Conspiracy Case
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Former news anchor, Stephanie Hockridge, has been sentenced to a 10-year prison term in connection with a conspiracy case. Hockridge, who previously worked at Phoenix news station ABC15, was found guilty of federal wire fraud conspiracy related to a pandemic-era Paycheck Protection Program (PPP) loan scheme. The sentencing, which took place on Friday, November 21, was handed down by a Texas federal judge, with Hockridge set to begin her prison time shortly after Christmas. Additionally, she has been ordered to pay almost $64 million in restitution alongside her co-defendants and will be subject to two years of supervised release.
As per reports from AZ Family and ABC15, the Department of Justice (DOJ) stated that Hockridge was convicted in June 2025 on one count of conspiracy to commit wire fraud, although she was acquitted of four counts of wire fraud. Together with her husband, Nathan Reis, Hockridge established a lender service company called Blueacorn in 2020. The company purported to assist small businesses in securing federal PPP loans, but in reality, Hockridge and her colleagues were involved in charging borrowers kickbacks based on a percentage of the funds received. Investigations revealed that the couple went as far as creating falsified payroll records, tax documents, and bank statements to help certain applicants secure larger loans from the U.S. Small Business Administration (SBA), the overseeing body of the PPP program.
During Hockridge’s trial, prosecutors outlined how the couple guided others in submitting fraudulent PPP loan applications. At one point, they even secured a loan for a company that had no employees. The DOJ’s statement detailed that Hockridge and her associates ran a personalised service named ‘VIPPP’ to assist potential borrowers in completing PPP loan applications, recruiting co-conspirators to act as VIPPP referral agents and instructing applicants on how to submit false loan applications.
A report uncovered by AZ Family disclosed that Blueacorn, based in Scottsdale, Arizona, generated over a billion dollars from processing the loans. The company’s partner lenders were responsible for nearly three times as many PPP loans in 2021 compared to major financial institutions like J.P. Morgan, Chase, and Bank of America combined. Following a significant portion of their PPP loans being forgiven, Hockridge and her husband relocated to Puerto Rico. Speaking on the case, Matthew R. Galeotti, head of the Justice Department’s Criminal Division, emphasised the misuse of the taxpayer-funded program during a national emergency, condemning Hockridge’s actions as a clear exploitation.
Originally scheduled for October 10, Hockridge’s sentencing was postponed until November 21, where she faced a potential 20-year prison term. She is slated to serve her sentence at the Federal Prison Camp in Bryan, Texas – a minimum-security facility that currently houses notable figures like Ghislaine Maxwell, Elizabeth Holmes, and Real Housewives of Salt Lake City star Jen Shah. Meanwhile, her husband, Nathan Reis, accepted a plea agreement and is awaiting sentencing in December.
In conclusion, this case sheds light on the consequences of committing fraud and exploitation during times of crisis, serving as a reminder of the importance of upholding integrity and honesty in all financial dealings.