Breaking: Phoenix News Anchor Indicted as Massive Ground Beef Recall Shakes Stores Nationwide

According to the Department of Justice, a former news anchor from the Phoenix area and her husband have been charged with committing fraud related to COVID-19 relief loans. The couple is accused of exploiting the financial assistance meant to help businesses during the pandemic for their personal gain.

An indictment was made public on Thursday in the Northern District of Texas, revealing that former news anchor Stephanie Hockridge, 41, who is also known by her maiden name, Stephanie Reis, and her husband, Nathan Reis, 45, have been charged with submitting false applications for Paycheck Protection Program (PPP) loans. The couple is accused of fraudulently seeking financial assistance through the program, which was designed to help businesses affected by the COVID-19 pandemic.

Court documents reveal that Stephanie Hockridge and her husband, Nathan Reis, co-founded a company called Blueacorn in April 2020 with the aim of assisting small businesses and individuals in securing Paycheck Protection Program (PPP) loans. However, prosecutors allege that Reis, Hockridge, and other co-conspirators engaged in a fraudulent scheme to exploit the program.

According to the charges, Reis and his associates fabricated essential documents such as payroll records, tax forms, and bank statements to falsely inflate loan applications. They are also accused of charging borrowers illegal kickbacks, which were based on a percentage of the PPP funds the borrowers received.

As part of the scheme, Reis and Hockridge are said to have expanded Blueacorn’s operations through agreements with two lenders, known as Lender Service Provider Agreements (LSPAs). Under these agreements, Blueacorn was responsible for collecting and reviewing PPP applications from potential borrowers and then working with lenders to submit these applications to the Small Business Administration (SBA). In return, Blueacorn received a share of the fees paid by the SBA to the lenders for approved loans.

Blueacorn also operated a program called “VIPPP,” where Hockridge and others provided personalized services to help borrowers complete their PPP loan applications. To further their fraudulent activities, Reis and Hockridge allegedly recruited others to act as VIPPP referral agents, coaching borrowers on how to submit false information in their applications.

Prosecutors claim that Reis, Hockridge, and their co-conspirators knowingly submitted false loan applications to secure more kickbacks and lender fees from the SBA. As a result, both Reis and Hockridge face serious charges, including one count of conspiracy to commit wire fraud and four counts of wire fraud. If convicted, they could each face up to 20 years in prison for each count.