Former ABC 15 anchor Stephanie Hockridge and her husband plead not guilty to alleged PPP fraud scheme

PHOENIX - 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. 

The couple took out loans for themselves, then showed others how easy it was to get taxpayer cash in a scheme worth hundreds of millions of dollars set against the backdrop of global pandemic relief.

"Criminals and criminal organizations took advantage of Americans suffering during this crisis and committed substantial fraud against these critical pandemic relief programs," said Rep. Jim Clyburn during the 2022 Coronavirus Committee hearings.

Among the alleged criminals were Hockridge and her husband.

During a federal hearing, numbers reaching into the billions are discussed.

"I think it was 57,000 applications in PPP were for applicants who were on the Do Not Pay list, involving several billions of dollars," said Inspector General Michael E. Horowitz at the height of the pandemic.

Hockridge and Reis are accused of attempting to directly charge some applicants a 10% fee for successfully getting a loan, a violation of the Small Business Administration rules.

A review of the loans showed what the couple were willing to do for the money, including Reis claiming in an application he was African American and a veteran.

Other evidence showed Hockridge describing the PPP as "$100 billion dollars of free money."

And although the PPP loans were set up for small businesses, Hockridge told her staff "Who the f*** cares." "We're not the first bank to decline borrowers who deserve to be funded... They can go elsewhere."

Reis and Hockridge also requested direct payments from PPP borrowers, ultimately scamming them out of substantial amounts of their loans.

The entire process, laid out in a 90-second video, is now at the center of an alleged federal deception.

The duo took their stolen millions to set up a lavish lifestyle in Puerto Rico, where her husband was taken into custody by federal authorities. 

Both Hockridge and Reis are charged with one count of conspiracy to commit wire fraud and four counts of wire fraud. They pleaded not guilty to all five felony charges in court on Nov. 25.

Hockridge and Reis face up to 20 years in prison on each count if convicted.