A co-founder of a lender service company was sentenced on Friday, November 21, 2025, to 10 years in federal prison for helping orchestrate a scheme that fraudulently secured more than $63 million in Paycheck Protection Program (PPP) loans during the COVID-19 pandemic.
Fabricated documents and inflated PPP loans
What we know:
42-year-old Stephanie Hockridge, of Arizona, who previously worked as a TV news anchor for KNXV in Phoenix, was also ordered to pay more than $63 million in restitution after a jury convicted her on June 20 of one count of conspiracy to commit wire fraud.
Prosecutors said Hockridge co-founded Blueacorn in April 2020 to assist small businesses in applying for loans guaranteed by the Small Business Administration under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
Instead, she and her co-conspirators fabricated payroll records, bank statements and tax documents to obtain larger loans for applicants, according to evidence presented at trial.
In total, Blueacorn processed more than $63 million in fraudulent loans.
Ex-TV anchor sentenced to 10 years for $63M PPP Fraud
