PHOENIX — A former Phoenix area news anchor and her husband have been charged with fraud connected to COVID-19 relief loans, according to the Department of Justice.
On Monday, former news anchor Stephanie Hockridge, 41, also known as Stephanie Reis, and her husband, Nathan Reis, 45, pleaded not guilty in a Texas courthouse.
An indictment was unsealed Thursday in the Northern District of Texas charging Hockridge, also known as Stephanie Reis, and her husband, Nathan Reis with submitting fraudulent Paycheck Protection Program loan applications.
VERSIÓN EN ESPAÑOL: Expresentadora de noticias de Arizona es acusada de fraude
According to court documents, Reis and Hockridge co-founded Blueacorn in April 2020, to help small businesses and individuals get PPP loans.
Prosecutors say Reis and other co-conspirators allegedly fabricated documents, including payroll records, tax documentation, and bank statements. Reis and Hockridge allegedly charged borrowers illegal kickbacks based on a percentage of the money received.
As part of the alleged scheme, Reis, Hockridge, and others expanded Blueacorn’s operations through lender service provider agreements (LSPAs) with two lenders, court documents say.
Under the LSPAs, Blueacorn collected and reviewed PPP applications from potential borrowers on behalf of the lenders and worked with the lenders to submit applications to the SBA in exchange for a percentage of the fees that the SBA paid to the lenders for approved PPP loans.
Blueacorn also had a program called “VIPPP” in which Hockridge and others offered personalized services to help potential borrowers complete PPP loan applications. Reis and Hockridge allegedly recruited co-conspirators to work as VIPPP referral agents and coach borrowers on how to submit false PPP loan applications.
Prosecutors argue to get more kickbacks and lender fees from the SBA, Reis, Hockridge, and their co-conspirators submitted PPP loan applications that they knew contained false information.
Reis and Hockridge are charged with one count of conspiracy to commit wire fraud and four counts of wire fraud. If convicted, they face a maximum penalty of 20 years in prison on each count.
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