The founders of Blueacorn, a Scottsdale-based company that processed Paycheck Protection Program (PPP) loan applications during the pandemic, have been indicted. The indictment lists four criminal counts for wire fraud, and one for conspiracy to commit wire fraud.
An indictment unsealed Thursday in Texas charges two cofounders of Blueacorn in connection with a scheme to fraudulently obtain COVID-19 relief money guaranteed by the U.S. Small Business Administration (SBA) through the PPP under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.
The document states that 45-year-old Nathan Reis and his wife, 41-year-old Stephanie Hockridge Reis, a former ABC15 News anchor, allegedly submitted false and fraudulent PPP loan applications on behalf of themselves and their businesses, including by fabricating documents that they submitted in their loan applications to receive loan funds for which they were not eligible…