A former television news anchor who helped orchestrate a massive COVID-relief loan fraud will serve her sentence at the same Texas federal prison housing Ghislaine Maxwell and other high-profile white-collar criminals.

According to Fox News, Stephanie Hockridge, 42, received a 10-year prison sentence on Friday after being convicted of conspiracy to commit wire fraud in connection with a scheme involving over $63 million in fraudulent Paycheck Protection Program loans. She was also ordered to pay full restitution for the stolen funds.

Hockridge previously worked as a news anchor for Phoenix television station KNXV before transitioning into the lending industry. In April 2020, she co-founded Blueacorn, a company that purportedly helped small businesses and individuals obtain PPP loans during the coronavirus pandemic.

Fabricated Documents and Kickback Scheme

The Department of Justice outlined a systematic fraud operation that exploited emergency pandemic relief programs designed to help struggling businesses. Internal company communications obtained by investigators revealed that Hockridge directed staff to prioritize certain high-value clients over regular borrowers through what the company called "VIPPP" applications.

To secure larger loan amounts for select applicants, Hockridge and her co-conspirators manufactured false documentation, including payroll records, tax forms, and bank statements. The fraudulent scheme also involved charging borrowers kickbacks calculated as a percentage of the loan proceeds they received.

Screenshots of Slack messages showed Hockridge instructing Blueacorn employees to delete applications from non-priority borrowers. Despite the evidence, Hockridge maintained that Blueacorn represented a "sincere effort to support small businesses" during the pandemic crisis, according to the New York Post.

Prison Assignment With Notorious Inmates

Hockridge will serve her decade-long sentence at the Federal Prison Camp in Bryan, Texas, a minimum-security facility that currently houses several infamous female offenders. Maxwell, convicted of sex trafficking minors with Jeffrey Epstein, is serving a 20-year sentence at the same location after being transferred from FCI Tallahassee.

The facility also holds Theranos founder Elizabeth Holmes, who defrauded investors with false claims about blood-testing technology, and Jennifer Shah, a former "Real Housewives of Salt Lake City" cast member convicted of running a telemarketing fraud scheme. The prison camp offers substantially less restrictive conditions than higher-security federal facilities.

Federal grand jurors found Hockridge guilty earlier in 2025 of violating laws meant to protect government-guaranteed loans under the Coronavirus Aid, Relief, and Economic Security Act. The PPP program was established to help businesses maintain payroll, rehire laid-off workers, and cover essential expenses, including rent, utilities, and mortgage interest, during pandemic-related shutdowns.

Investigation Reveals Systematic Exploitation

The Select Subcommittee on the Coronavirus Crisis examined internal Blueacorn communications that demonstrated the company's prioritization of profitable clients over legitimate small business applicants. These messages provided federal prosecutors with evidence of intentional fraud rather than administrative errors or mismanagement.

Neither Hockridge's legal representation nor the Federal Bureau of Prisons responded to requests for comment from Fox News Digital regarding the case or prison assignment. The lack of response left unanswered questions about whether Hockridge plans to appeal her conviction or sentence.

The case represents one of numerous prosecutions related to PPP fraud, as federal authorities continue investigating billions of dollars in potentially fraudulent pandemic relief claims. Law enforcement agencies have prioritized cases involving large-scale organized fraud operations over individual misrepresentations.

Lessons to Learn

1. Scrutinize financial service providers: In times of crisis, many businesses seek help navigating complex relief programs. It’s critical to verify the legitimacy of financial firms and their credentials before handing over sensitive business or financial information.

2. Watch for warning signs: Unusual requests for "expedited" help in exchange for fees or preferential treatment, such as the alleged "VIPPP" application process in this case, should be a red flag. Know the official guidelines of federal programs or consult with trustworthy legal or financial counsel.

3. Accountability matters—regardless of background: White-collar crimes are often less visible but no less damaging. The case of a former TV personality turned fraud felon serves as a reminder that anyone can cross legal lines—and anyone can be held accountable. Still, it’s important to note that crime can happen to anyone, and victims of fraud should never be blamed for being misled.

Why This Story Matters

This story highlights the vulnerability of public relief programs in times of national emergency. It sheds light on how some individuals exploited systems built for survival, further straining public trust. Ensuring transparency and accountability in such programs is essential to protect the communities they aim to support. As white-collar crimes grow more sophisticated, awareness and vigilance remain key. Sharing high-profile convictions like this helps deter future misconduct and reinforces the message that no one is above the law.

Conclusion

Stephanie Hockridge, once a well-known figure in Arizona broadcast news, has now been sentenced to a decade in federal prison for orchestrating a $63 million scheme to exploit PPP pandemic relief funds. Her company, Blueacorn, falsely processed inflated loan applications and charged unlawful fees, bilking the federal government and undermining a program meant to preserve jobs and small businesses during a national emergency. Now incarcerated at the Federal Prison Camp in Bryan, Texas—alongside figures like Ghislaine Maxwell and Elizabeth Holmes—the case stands as a stark example of the federal government’s pursuit of pandemic-era fraudsters.