Former News Anchor Stephanie Hockridge Sentenced for COVID Fraud

Stephanie Hockridge, a former news anchor, has been sentenced to ten years in prison for her role in a fraudulent COVID-19 loan scheme. A Texas federal court ordered Hockridge to pay nearly $64 million in restitution for her involvement with fraudulent Paycheck Protection Program (PPP) loans. She is set to report to prison on December 30, 2025 and will serve her sentence in the same facility as notorious figures such as Ghislaine Maxwell.

Hockridge, 42, transitioned from her role as an anchor at ABC15 in Phoenix to become an entrepreneur. Her sentencing was announced by the U.S. Department of Justice (DOJ), following her conviction in June 2025 on a single count of conspiracy to commit wire fraud. Although she was acquitted of four other counts, the conviction highlights the serious nature of her offenses during a time of crisis.

The fraudulent activities stemmed from Hockridge and her partner, Nathan Reis, who founded Blueacorn, a financial services company claiming to assist small businesses in securing PPP loans. Prosecutors revealed that the couple charged borrowers kickbacks based on the loan amounts they received. They knowingly submitted applications filled with false information to the U.S. Small Business Administration (SBA), which managed the PPP program.

In total, Blueacorn processed over $63 million in fraudulent loans. Prosecutors highlighted that in one instance, Reis misrepresented himself as a veteran and an African American to secure loans. The PPP was a federal initiative, allocating $800 billion to help small businesses retain employees during the pandemic.

Despite the gravity of her actions, Hockridge argued that her intentions were to genuinely support small businesses through a tumultuous period of governmental challenges. She claimed that her actions were motivated by a desire to assist others during a time of “unprecedented need.”

Reis, who also faced charges in connection with the scheme, accepted a plea agreement in August and is scheduled for sentencing in December 2025. Hockridge’s case serves as a cautionary tale about the potential for fraud during emergency programs designed to provide relief.

Hockridge’s prison location will be the Federal Prison Camp in Bryan, Texas, a minimum-security facility known for housing various high-profile individuals, including Elizabeth Holmes and Jen Shah. As part of her sentence, Hockridge will also be subject to two years of supervised release following her prison term.

This case illustrates the critical importance of safeguarding federal programs designed to aid vulnerable populations, particularly during crises such as the COVID-19 pandemic. The DOJ continues to emphasize the need for accountability in order to protect taxpayer funds and ensure that assistance reaches those who truly need it.