She was acquitted on four other counts of wire fraud.<\/p>\n
The judge ordered $63 million in restitution in the case, which Hockridge and other defendants will be jointly responsible for paying.<\/p>\n
The money will be payable to the Small Business Administration, which ran the PPP loan program.<\/p>\n
According to ABC15, Hockridge arrived at the courthouse 30 minutes prior to the start of her hearing.<\/p>\n
She was released with an ankle monitor after the sentencing and was ordered to self-report to prison on Dec. 30.<\/p>\n
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.<\/p>\n
Reis is set to be sentenced in December.<\/p>\n
The couple has a 1-year-old son and occasionally judges grant accommodations for married defendants with children.<\/p>\n
They also asked for a new trial, claiming that prosecutors failed to disclose certain materials before the start of trial.<\/p>\n
The request was denied on Thursday.<\/p>\n
Background on crimes by Blueacorn<\/p>\n
Hockridge, Reis and others started Blueacorn in Scottsdale in 2020.<\/p>\n
The couple was accused of submitting fake documents<\/a> so borrowers could obtain loans they weren\u2019t eligible for and taking part of the proceeds.<\/p>\n Forged documents ranged from loan applications to tax documents that would manipulate higher loan amounts.<\/p>\n The couple was living in Puerto Rico when they were indicted.<\/p>\n Hockridge\u2019s sentence was half of the 20-year maximum for someone guilty of conspiracy to commit wire fraud.<\/p>\n Hockridge, 42, will be 52 years old at the end of her term if the time is served consecutively.<\/p>\n Follow @tomkuebelaz<\/a><\/p>\n We want to hear from you.<\/p>\n Have a story idea or tip? Pass it along to the KTAR News team here<\/a>.<\/p>\n
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