FORT WORTH, TX — A verdict has been reached in the trial for one of the founders of Blueacorn, a COVID-19-era company that helped process Paycheck Protection Program loans.
Stephanie Hockridge, who worked as an ABC15 news anchor from 2011 to 2018, started the financial tech company in Scottsdale with her husband, Nathan Reis, and others in 2020.
On Friday, a jury found Hockridge guilty on one count of conspiracy to commit wire fraud. She was found not guilty on four counts of wire fraud.
Hockridge was taken into the custody of the U.S. Marshals after the verdict was read. It is unclear if she will remain in custody until her sentencing occurs.
Hockridge and Reis were indicted by a grand jury in November 2024 on federal charges: one count of conspiracy and four counts of wire fraud.
Hockridge's trial began earlier this month, while Reis's trial is scheduled for August. Both defendants have pleaded not guilty.
During the trial, prosecutors said the couple and their co-conspirators submitted fraudulent Paycheck Protection Program applications to obtain forgivable COVID-19 relief loans for businesses and individuals.
READ MORE: Scottsdale-based Blueacorn founders indicted in PPP loan fraud investigation
The trial took an unexpected emotional turn as the former ABC15 newscaster sobbed and briefly left the courtroom after an FBI agent recounted the arrest of her husband.
See previous ABC15 coverage of the Blueacorn trial below and in the player above.
Hockridge's defense attorney questioned the FBI agent about why he didn't interview certain borrowers or review more banking and tax records to rule out other explanations for PPP loan amounts.
Sentencing is scheduled for October 10, 2025.
