Former ABC 15 anchor Stephanie Hockridge and her husband face trial on PPP fraud charges

PHOENIX – Stephanie Hockridge, a former anchor at ABC 15 in Phoenix, and her husband Nathan Reis are accused of making false and fraudulent Paycheck Protection Program (PPP) loans.

The couple took out loans for themselves and then showed others how easy it was to get taxpayer money in a scheme worth hundreds of millions of dollars set up amid global pandemic relief.

“Criminals and criminal organizations have taken advantage of the suffering of Americans during this crisis and committed significant fraud against these critical pandemic relief programs,” Rep. Jim Clyburn said during a House Coronavirus 2022 Committee hearing.

Among the alleged perpetrators were Hockridge and her husband.

During federal hearings, figures ranging into the billions are discussed.

“I think there were 57,000 applications submitted under the PPP from applicants who were on the Do Not Pay list, amounting to several billion dollars,” Inspector General Michael E. Horowitz said at the height of the pandemic.

Hockridge and Reis are accused of trying to directly charge some applicants a 10% fee for successfully obtaining a loan, a violation of Small Business Administration regulations.

A credit check revealed the lengths the couple was willing to go to for the money, including Reis saying in a statement that he is African American and a veteran.

Other evidence shows Hockridge describing the PPP as “$100 billion in free money.”

And although the PPP loans were created for small businesses, Hockridge told her employees, “Why the hell care.” “We’re not the first bank to turn away borrowers who deserve financing… They may go elsewhere.”

Reis and Hockridge also demanded direct payments from PPP borrowers, ultimately defrauding them of significant loan amounts.

The entire process outlined in the 90-second video is now at the center of an alleged federal deception.

The duo used the stolen millions to live a lavish lifestyle in Puerto Rico, where her husband was taken into federal custody.

Both Hockridge and Race are charged with one count of conspiracy to commit wire fraud and four counts of wire fraud.

Hockridge was summoned to appear in court in Dallas, Texas on November 25.

If convicted, they face up to 20 years in prison on each count.