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Fraudster Gets 10 Years for $63M PPP Scam

11/24/2025

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Summary

Story summary

Stephanie Hockridge was sentenced to 10 years in prison and ordered to pay over $63 million for defrauding the Paycheck Protection Program.
From April 2020 to May 2021, she participated in a scheme exploiting the pandemic-era Paycheck Protection Program.
She was charged in November 2024 and convicted in June on one count of wire-fraud conspiracy; four counts were acquitted.
Hockridge's lawyer said the conviction will likely be overturned on appeal.

History

Historical Context

The Paycheck Protection Program (PPP), launched in 2020, allocated $953 billion to support businesses during the COVID-19 pandemic. By April 2024, over 3,500 defendants faced charges for fraudulently claiming loans, totaling more than $2 billion. Stephanie Hockridge's conviction for stealing $63 million underscores the need for stricter regulations in federal assistance programs to prevent future abuses.

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Story summary

Stephanie Hockridge was sentenced to 10 years in prison and ordered to pay over $63 million for defrauding the Paycheck Protection Program.
From April 2020 to May 2021, she participated in a scheme exploiting the pandemic-era Paycheck Protection Program.
She was charged in November 2024 and convicted in June on one count of wire-fraud conspiracy; four counts were acquitted.
Hockridge's lawyer said the conviction will likely be overturned on appeal.

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