Overview
- A federal judge in Fort Worth sentenced Hockridge to 120 months and ordered nearly $64 million in restitution, plus two years of supervised release.
- Evidence showed she co-founded Blueacorn in 2020 and, with others, fabricated payroll, tax and bank records to inflate PPP loans.
- According to the Justice Department, the scheme involved kickback fees and a premium "VIPPP" service that coached applicants to submit false information.
- Prosecutors say the conspirators processed more than $63 million in fraudulent PPP loans guaranteed by the SBA.
- Hockridge was convicted in June of conspiracy to commit wire fraud, acquitted on four wire-fraud counts, and must surrender to FPC Bryan by Dec. 30, while co-founder Nathan Reis awaits December sentencing after a plea.