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Former ABC15 anchor Stephanie Hockridge has been sentenced to a decade behind bars after a federal jury found her guilty in a sweeping scheme tied to COVID-era relief loans. The case has drawn attention for its size, the evidence presented at trial, and the hefty financial judgment now ordered by a court.
Prison time and a massive restitution order
U.S. District Court imposed a 10-year prison term on Hockridge. In addition, the judge ordered her to pay more than $63 million in restitution to the government.
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- Sentence: 10 years in federal prison.
- Financial penalty: Over $63 million restitution.
- Conviction: Conspiracy to commit wire fraud.
How prosecutors say the fraud unfolded
Authorities allege Hockridge and her husband, Nathan Reis, used a company called Blueacorn to obtain improper funds from the Paycheck Protection Program. The DOJ contends the couple submitted fabricated documents and inflated information to secure loans meant for struggling small businesses.
Program targeted
The PPP was designed to cushion small businesses during the COVID-19 shutdowns. Prosecutors say the defendants abused that purpose to obtain millions they were not entitled to.
Timeline: indictment, trial, and plea
- 2024: Both Hockridge, 42, and her husband, 46, were indicted on multiple counts.
- Hockridge went to trial and was convicted in June.
- Reis reached a plea agreement in August, pleading guilty to a single conspiracy count.
Key evidence presented at trial
Prosecutors relied on loan applications, business records, and electronic communications. One text message gained particular attention during the proceedings. Hockridge allegedly wrote to Reis: “This is us trying to apply for free money— when we don’t quite qualify. lol”
- False documents submitted with loan packages.
- Emails and texts indicating intent and awareness.
- Financial records showing receipt and use of funds.
Defense claims and courtroom arguments
Defense attorneys argued the couple acted out of a misguided attempt to help small businesses during an emergency. They also sought to place more blame on Reis, saying he directed key steps in the applications.
Prosecutors rejected those explanations and argued the evidence showed deliberate and coordinated deception.
What happens next legally
Hockridge will begin serving her federal sentence following court procedures. Reis’s plea deal narrowed his exposure to one conspiracy count. The DOJ statement emphasizes the scheme’s scale and the government’s intent to recover losses.
