Due to her involvement in a multimillion-dollar COVID fraud scam, disgraced former TV presenter Stephanie Hockridge will serve the next ten years in prison.
The Justice Department announced that the 42-year-old, a former Phoenix TV anchor turned businesswoman, was sentenced in Texas federal court on Friday and ordered to pay nearly $64 million in restitution for the fraudulent Paycheck Protection Program loans she assisted in obtaining during the pandemic’s peak.
But prosecutors said the couple’s Scottsdale-based firm charged borrowers kickbacks based on the percentage of the funds received — and submitted applications to the US Small Business Administration, which ran the PPP program, they knew where loaded with fraudulent information.
In one application, Reis reportedly falsely claimed he was a veteran and an African American.
In total, they processed more than $63 million in bogus PPP loans, according to the DOJ.
The PPP was an $800 billion federal loan initiative launched in 2020 to help small businesses keep workers employed during the COVID-19 pandemic.
Investigators alleged that the couple used the proceeds to enrich themselves personally.
But prosecutors said the couple’s Scottsdale-based firm charged borrowers kickbacks based on the percentage of the funds received — and submitted applications to the US Small Business Administration, which ran the PPP program, they knew where loaded with fraudulent information.
In one application, Reis reportedly falsely claimed he was a veteran and an African American.
In total, they processed more than $63 million in bogus PPP loans, according to the DOJ.
The PPP was an $800 billion federal loan initiative launched in 2020 to help small businesses keep workers employed during the COVID-19 pandemic.
Investigators alleged that the couple used the proceeds to enrich themselves personally.
