Stephanie Hockridge Sentenced to 10 Years for PPP Fraud

FORT WORTH, TX — Stephanie Hockridge, a co-founder of Blueacorn and a former news anchor, was sentenced to 10 years in prison for federal conspiracy in a fraud case tied to the Paycheck Protection Program (PPP).

Hockridge’s sentencing took place on Friday at the federal courthouse in Fort Worth, Texas. She was ordered to pay $64 million in restitution, which will be sent to the Small Business Administration (SBA), the agency overseeing the PPP. Hockridge and her co-defendants will share the responsibility for this payment.

Following her sentencing, Hockridge was released on an ankle monitor while her attorney seeks a staggered sentence to serve alongside her husband, Nathan Reis, who also pleaded guilty to PPP fraud. The couple has a one-year-old son.

Hockridge’s sentencing was initially set for October 2025 but was moved up to November 21. During the trial, prosecutors indicated that Hockridge and her co-conspirators submitted fraudulent applications to secure forgivable COVID-19 relief loans.

Although she was acquitted of four counts of wire fraud, Hockridge was convicted of one count of conspiracy. Her attorney had requested a new trial or a lesser sentence, citing the failure of prosecutors to disclose certain materials before the trial. That request was denied.

Reis is scheduled for sentencing in December. This case highlights the ongoing scrutiny over PPP loan distribution during the pandemic.