Overview
- A federal judge in Fort Worth imposed a 120-month prison term and ordered more than $63 million in restitution for the Blueacorn co-founder.
- The court set a Dec. 30, 2025 surrender deadline at 2 p.m. and requested placement at Federal Prison Camp Bryan in Texas.
- Trial evidence showed falsified payroll, tax and bank documents, kickbacks tied to loan proceeds, and a personalized 'VIPPP' service that coached false applications.
- A congressional report said Blueacorn took in over a billion dollars for processing PPP loans and reported the founders later relocated to Puerto Rico.
- Co-defendant Nathan Reis pleaded guilty and is scheduled for sentencing in December 2025 as federal PPP fraud enforcement continues.