PHOENIX — Former ABC15 News Anchor Stephanie Hockridge was sentenced to 10 years in prison on Friday for a COVID-19 loan scam.
The ex-anchor and co-founder of Blueacorn, a loan processing company that assisted people with filing for paycheck protection program (PPP) loans, was sentenced for one count of conspiracy to commit wire fraud.
She was acquitted on four other counts of wire fraud.
The judge ordered $63 million in restitution in the case, which Hockridge and other defendants will be jointly responsible for paying.
The money will be payable to the Small Business Administration, which ran the PPP loan program.
According to ABC15, Hockridge arrived at the courthouse 30 minutes prior to the start of her hearing.
She was released with an ankle monitor after the sentencing and was ordered to self-report to prison on Dec. 30.
Attorneys for Hockridge had asked to either receive a non-prison sentence or a staggered sentence alongside her husband, Nate Reis, who also pleaded guilty to the PPP fraud conspiracy in August.
Reis is set to be sentenced in December.
The couple has a 1-year-old son and occasionally judges grant accommodations for married defendants with children.
They also asked for a new trial, claiming that prosecutors failed to disclose certain materials before the start of trial.
The request was denied on Thursday.
Background on crimes by Blueacorn
Hockridge, Reis and others started Blueacorn in Scottsdale in 2020.
The couple was accused of submitting fake documents so borrowers could obtain loans they weren’t eligible for and taking part of the proceeds.
Forged documents ranged from loan applications to tax documents that would manipulate higher loan amounts.
The couple was living in Puerto Rico when they were indicted.
Hockridge’s sentence was half of the 20-year maximum for someone guilty of conspiracy to commit wire fraud.
Hockridge, 42, will be 52 years old at the end of her term if the time is served consecutively.
We want to hear from you.
Have a story idea or tip? Pass it along to the KTAR News team here.
