Back to today’s briefing

Story perspectives

Ex-TV Anchor Sentenced for $300K PPP Loan Fraud

11/23/2025

49 10 Full Breakdown

Summary

Story summary

Former Phoenix TV anchor Stephanie Hockridge was sentenced to ten years in prison and must self-surrender by December 30.
Hockridge and her husband Nathan Reis operated BlueAcorn and falsely claimed to help businesses obtain Paycheck Protection Program loans.
They fraudulently obtained over $300,000 and processed more than $63 million in fake loans.
Nathan Reis pleaded guilty and awaits sentencing in December.

History

Historical Context

Established in 2020 under the CARES Act, the Paycheck Protection Program (PPP) allocated $953 billion to support businesses during the COVID-19 pandemic. By April 2024, over 3,500 individuals faced charges for fraudulently claiming loans, totaling $1.4 billion. This ongoing issue of fraud has prompted discussions on enhancing oversight and reforming loan distribution processes to prevent future abuses.

1 of 2

Story summary

Former Phoenix TV anchor Stephanie Hockridge was sentenced to ten years in prison and must self-surrender by December 30.
Hockridge and her husband Nathan Reis operated BlueAcorn and falsely claimed to help businesses obtain Paycheck Protection Program loans.
They fraudulently obtained over $300,000 and processed more than $63 million in fake loans.
Nathan Reis pleaded guilty and awaits sentencing in December.

1 / 2