Latest news with #StephanieHockridge
Daily Mail
24-06-2025
- Business
- Daily Mail
Former TV anchor facing years in prison over shocking Covid lies
A glamorous TV news anchor facing years in prison over shocking Covid lies has learned her fate. Stephanie Hockridge has been found guilty of one count of conspiracy to commit wire fraud. She had pleaded not guilty but could now be jailed for decades. Hockridge was acquitted of four counts of wire fraud. The scandal involved photos of her holding cash in a bathtub, luxury beachfront apartments, and a billion-dollar fintech scheme that left American taxpayers footing the bill. A federal jury found the 42-year-old former KNXV-TV anchor guilty concluding that she orchestrated a vast scheme to exploit the Paycheck Protection Program (PPP) during the height of the pandemic. Hockridge's sentencing is scheduled for October 10, and she faces up to 20 years in prison for the conspiracy conviction. The verdict caps a dramatic fall from grace for the Emmy-nominated journalist who once graced magazine covers as 'Arizona's Favorite Newscaster.' But behind the studio lights and on-air smiles, federal prosecutors say Hockridge was running a Covid cash-grab empire alongside her husband, fintech founder Nathan Reis, 46. The US government's case centered on Blueacorn, the fintech firm Hockridge co-founded with Reis in April 2020 just weeks after leaving her anchor job at ABC15. The company claimed to help small businesses navigate the PPP loan process, a lifeline created by Congress to keep workers employed during the Covid crisis. In reality, investigators say Blueacorn became a fraud factory. According to a congressional subcommittee, the company processed over $12.5 billion in loans and pocketed up to $300 million for its ownership group, including Hockridge, while spending virtually nothing on fraud prevention. Another text cited by prosecutors reportedly described her as 'the MVP' of the operation. According to court filings, Hockridge and her husband submitted fraudulent PPP applications for themselves, including one claiming Reis was both African American and a military veteran - both lies. The couple received at least $300,000 in personal PPP funds. They also charged borrowers illegal 'success fees,' violating SBA rules, and even struck kickback deals with banks, collecting percentages of loans that were funded, prosecutors alleged. Blueacorn's practices were so brazen that Congress launched a formal investigation, revealing that while the company collected over $1 billion in taxpayer-funded processing fees, it spent only $8.6 million on fraud prevention - less than 1 percent of its intake. One congressional report summarized the company's internal directive succinctly: Speed over accuracy. Some employees, with zero financial training, were reportedly processing hundreds of loans in under 30 seconds each. 'This was not about helping small businesses,' a federal official close to the investigation said. 'It was about siphoning off a national crisis for personal gain.' Hockridge transformation from trusted journalist to convicted felon has gripped Arizona's media community. She spent seven years as a respected anchor for KNXV-TV, and previously worked for CBS News Radio in London. Her career accolades include an Emmy nomination and features in local lifestyle publications. But prosecutors painted a starkly different portrait in court: not a broadcaster-turned-entrepreneur, but a co-conspirator in one of the biggest pandemic profiteering cases to date. The couple allegedly rerouted money through a chain of bank accounts, using interstate wires to disguise their tracks. 'Nathan Reis and Stephanie Hockridge… knowingly devised and intended to devise the scheme to defraud,' the indictment states. 'To obtain money and property by means of materially false and fraudulent pretenses.' At the heart of the prosecution's case was an alleged attitude of impunity. Prosecutors said Hockridge once described the PPP program as '$100 billion of free money'. Her husband's trial is scheduled for August where he faces similar charges.
Yahoo
24-06-2025
- Business
- Yahoo
Ex-TV news anchor Stephanie Hockridge convicted in massive scheme to fraudulently obtain COVID relief funds
Stephanie Hockridge, a former Phoenix news anchor-turned-fintech entrepreneur, has been convicted of conspiracy to commit wire fraud in a federal case involving hundreds of millions of dollars in COVID relief funds. A jury in the Northern District of Texas found Hockridge guilty on one count of conspiracy to commit wire fraud. She was acquitted on four additional counts of wire fraud. Sentencing is scheduled for Oct. 10. Hockridge's conviction was announced on Friday. According to federal prosecutors and investigative reports, Hockridge and her husband, Nathan Reis, fraudulently obtained over $300,000 in Paycheck Protection Program (PPP) loans for themselves, including one application that falsely claimed he was a veteran and an African American. The couple's Scottsdale-based fintech firm, Blueacorn, which they co-founded in 2020, processed over $12.5 billion in PPP loans — with somewhere between $250 million and $300 million going to the company's ownership, including Hockridge. Blueacorn received over $1 billion in taxpayer-funded processing fees for facilitating PPP loans but spent less than 1% ($8.6 million) on fraud prevention and only $13.7 million on eligibility verification, according to a congressional investigation. The PPP was an $800 billion federal loan initiative launched in 2020 to help small businesses keep workers employed during the COVID-19 pandemic. It was part of a broader effort — including grants, tax credits and emergency loans — aimed at stabilizing the US economy and preventing mass business closures and layoffs. Investigators alleged that the couple used the proceeds to enrich themselves personally. Congress said it obtained a video created by Reis and Hockridge showing off large amounts of cash in a bar on Dec. 21, 2021. According to public records, Reis relocated to San Juan, Puerto Rico, which has no capital gains tax, following his work at Blueacorn. An Oct. 8, 2021, video obtained by congressional staffers which was geolocated to San Juan showed Hockridge and Reis on the balcony of a luxury beachfront apartment. According to a congressional report, Blueacorn routinely failed to properly vet applicants and charged illegal 'success fees' to borrowers — violating Small Business Administration rules. The congressional report detailed how Blueacorn's leadership instructed staff to prioritize speed over accuracy. Internal messages showed reviewers were told to 'push through' questionable applications, ignore red flags, and skip identity checks unless fraud was 'extremely obvious.' Some staff processed hundreds of loans with no training — sometimes within 30 seconds each. The subcommittee also uncovered the existence of a 'VIPPP' program that allowed high-dollar clients to bypass standard review protocols. Founders dismissed smaller loan applicants with phrases like 'delete them,' 'who f–king cares' and 'they go elsewhere.' Hockridge, 42, was once a familiar face in Arizona households. She spent seven years as an anchor at KNXV-TV, the ABC affiliate in Phoenix, and had previously worked as a reporter for CBS News Radio in London. She was nominated for an Emmy and named 'Favorite Newscaster' by Arizona Foothills Magazine. Reis is scheduled to stand trial in August 2025 on related charges. Prosecutors allege he played a lead role in directing the company's operations and handling its financial distributions. Hockridge's conviction marks one of the highest-profile PPP fraud cases to date involving a public figure. Fraud related to COVID-19 relief programs was unprecedented in US history, with losses estimated in the hundreds of billions — possibly up to $1 trillion. The PPP, Economic Injury Disaster Loans and unemployment insurance programs were especially vulnerable — with watchdogs reporting widespread misuse, insider abuse and systemic failures in fraud prevention. The Post has sought comment from Hockridge and Reis.
New York Post
23-06-2025
- Business
- New York Post
Ex-TV news anchor Stephanie Hockridge convicted in massive scheme to fraudulently obtain COVID relief funds
Stephanie Hockridge, a former Phoenix news anchor turned fintech entrepreneur, has been convicted of conspiracy to commit wire fraud in a federal case involving hundreds of millions of dollars in COVID relief funds. A jury in the Northern District of Texas found Hockridge guilty on one count of conspiracy to commit wire fraud. She was acquitted on four additional counts of wire fraud. Sentencing is scheduled for Oct. 10. Hockridge's conviction was announced on Friday. Advertisement 6 Stephanie Hockridge is a former television news anchor who worked in Phoenix. Facebook / Stephanie Hockridge 6 Hockridge was convicted of one count of conspiracy to commit wire fraud. Facebook / Stephanie Hockridge According to federal prosecutors and investigative reports, Hockridge and her husband, Nathan Reis, fraudulently obtained over $300,000 in Paycheck Protection Program (PPP) loans for themselves, including one application that falsely claimed he was a veteran and an African American. Advertisement The couple's Scottsdale-based fintech firm, Blueacorn, which they co-founded in 2020, processed over $12.5 billion in PPP loans — with somewhere between $250 million and $300 million going to the company's ownership — including Hockridge. Blueacorn received over $1 billion in taxpayer-funded processing fees for facilitating PPP loans but spent less than 1% ($8.6 million) on fraud prevention and only $13.7 million on eligibility verification, according to a congressional investigation. 6 Hockridge and her husband, Nathan Reis, are alleged to have fraudulently obtained hundreds of millions of dollars in PPP loans. KPNX The PPP was an $800 billion federal loan initiative launched in 2020 to help small businesses keep workers employed during the COVID-19 pandemic. Advertisement It was part of a broader effort — including grants, tax credits, and emergency loans — aimed at stabilizing the US economy and preventing mass business closures and layoffs. Investigators alleged that the couple used the proceeds to enrich themselves personally. Congress said it obtained a video created by Reis and Hockridge showing off large amounts of cash in a bar on Dec. 21, 2021. According to public records, Reis relocated to San Juan, Puerto Rico, which has no capital gains tax, following his work at Blueacorn. An Oct. 8, 2021, video obtained by congressional staffers which was geolocated to San Juan showed Hockridge and Reis on the balcony of a luxury beachfront apartment. Advertisement According to a congressional report, Blueacorn routinely failed to properly vet applicants and charged illegal 'success fees' to borrowers — violating Small Business Administration rules. 6 The couple is alleged to have pocketed anywhere between $250 million and $300 million in profit as a result of the scheme. Facebook / Stephanie Hockridge The congressional report detailed how Blueacorn's leadership instructed staff to prioritize speed over accuracy. Internal messages showed reviewers were told to 'push through' questionable applications, ignore red flags, and skip identity checks unless fraud was 'extremely obvious.' Some staff processed hundreds of loans with no training — sometimes within 30 seconds each. 6 Reis is alleged to have fraudulently obtained loans by claiming he was black. Facebook / Stephanie Hockridge The subcommittee also uncovered the existence of a 'VIPPP' program that allowed high-dollar clients to bypass standard review protocols. Founders dismissed smaller loan applicants with phrases like 'delete them,' 'who f–king cares' and 'they go elsewhere.' Hockridge, 42, was once a familiar face in Arizona households. She spent seven years as an anchor at KNXV-TV, the ABC affiliate in Phoenix, and had previously worked as a reporter for CBS News Radio in London. She was nominated for an Emmy and named 'Favorite Newscaster' by Arizona Foothills Magazine. Advertisement Reis is scheduled to stand trial in August 2025 on related charges. Prosecutors allege he played a lead role in directing the company's operations and handling its financial distributions. 6 Hockridge spent seven years anchoring the news at KNXV-TV in Phoenix. Facebook / Stephanie Hockridge Hockridge's conviction marks one of the highest-profile PPP fraud cases to date involving a public figure. Fraud related to COVID-19 relief programs was unprecedented in US history, with losses estimated in the hundreds of billions — possibly up to $1 trillion. Advertisement The PPP, Economic Injury Disaster Loans (EIDL) and unemployment insurance programs were especially vulnerable — with watchdogs reporting widespread misuse, insider abuse and systemic failures in fraud prevention. The Post has sought comment from Hockridge and Reis.
Yahoo
12-06-2025
- Business
- Yahoo
Former Arizona news anchor's trial starts in PPP loan fraud case
Former business partners and customers are on the witness list for the wire fraud trial involving a former Valley newscaster. Opening statements are scheduled for Thursday morning in the federal criminal trial against Stephanie Hockridge, who previously worked as an ABC15 news anchor from 2011 to 2018. The trial takes place in Fort Worth, TX.
