(Just The News)—A former TV news anchor was convicted of fraudulently obtaining COVID-19 relief funds for small businesses through the Paycheck Protection Program.
Stephanie Hockridge, 42, a co-founder of the Scottsdale-based lender service provider Blueacorn and a former anchor at the Phoenix ABC affiliate KNXV-TV, was found guilty on Friday by a federal jury in connection with a scheme to fraudulently obtain tens of millions of dollars in PPP loans, according to the Department of Justice.
She was convicted of conspiracy to commit wire fraud and acquitted of four counts of wire fraud, and faces a prison sentence of up to 20 years. Her sentencing hearing is on Oct. 10.
Hockridge, who lives in Puerto Rico after she and her husband, Nathan Reis, left Arizona, was shown in court to have conspired with others to submit fraudulent PPP loan applications, including by fabricating documents that falsified income and payroll to receive loan funds for which they were ineligible.
“During a time of crisis in our country, this defendant abused the generosity of the American people by stealing money dedicated to the survival of small businesses to fraudulently enrich herself,” Acting U.S. Attorney Nancy E. Larson for the Northern District of Texas said in a statement on Monday.
- Read More: justthenews.com
Preparing for the Unexpected: Your Essential Partner in Health Readiness
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