(TheRedAlertNews.com) – As an infuriating COVID-19 fraud scheme has been exposed, Stephanie Hockridge-Reis, a former Arizona news anchor, and her spouse Nathan Reis have been indicted for allegedly exploiting pandemic relief funds, potentially facing prison for their actions.
See photos of Stephanie Hockridge-Reis and her partner Nathan Reis in the tweets below!
Their company, Blueacorn, played a key role in securing fraudulent COVID relief funds, an act that has sparked outrage and raised questions about the misuse of taxpayer money.
Stephanie Hockridge-Reis, once the face of ABC affiliate Channel 15 (KNXV-TV), and her husband are charged with wire fraud and conspiracy to commit wire fraud.
If convicted, each charge carries a maximum of 20 years in prison, placing the couple at risk of an overly lengthy sentence if the allegations hold true.
After leaving her position in 2018, Hockridge-Reis and her husband co-established Blueacorn in 2020, a company meant to assist in acquiring COVID-19 relief funds.
Blueacorn’s operations soon attracted federal scrutiny, Fox10 Phoenix reports.
Reports indicate the couple submitted false PPP loan applications, which secured funds not entitled to them, and fabricated essential documents like payroll records and tax paperwork.
Not only did they deceive the government, but they also allegedly charged illegal fees, earning a substantial sum from borrowers.
Referring to the PPP’s funds as “$100 billion dollars of free money,” Hockridge-Reis’ cavalier attitude further sparked disdain.
The couple went to great lengths to conceal this malicious scheme.
Hiring referral agents, they instructed clients to falsify applications, clouding the already murky waters of loan distribution further.
Simultaneously, Nathan Reis reportedly misrepresented his race and veteran status on loan forms, showcasing the extent of their deceit.
The fraudulent activities lay bare a flagrant disdain for the regulations designed to help Americans in distress.
“Other evidence revealed Hockridge-Reis described the PPP as ‘$100 billion dollars of free money,'” the U.S. Justice Department said in a statement, cited by The Daily Mail.
With operations expanding aggressively, Blueacorn partnered with two major lenders, reviewing a staggering number of applications.
Despite processing nearly three times the PPP loans of notable banks like J.P. Morgan Chase, they employed only one staff member for processing these applications.
This questionable operation method has led to a Congressional call for an intense federal investigation, pressing Washington to act decisively against malfeasance.
As the indictment is unsealed in the Northern District of Texas, Hockridge-Reis is scheduled for a court appearance in Dallas, Texas, on November 25.
A former trusted figure in journalism now finds herself entangled in allegations of exploiting funds meant to uplift small businesses.
It’s a stark reminder of why we must scrutinize those entrusted with public support, ensuring integrity and justice prevail.
Stephanie Hockridge, a former anchor at ABC 15 in Phoenix, and her husband Nathan Reis, are accused of submitting false and fraudulent Paycheck Protection Program (PPP) loans. https://t.co/AZujGUcFBH
— FOX 10 Phoenix (@FOX10Phoenix) November 25, 2024
A former Phoenix news anchor living a large, luxurious lifestyle in Puerto Rico indicted in multi-million dollar COVID fraud scheme. Story by Olivia Rose.via @azcentral https://t.co/7P6Mo95GDk
— Robert Anglen (@robertanglen) November 23, 2024
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