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In the summer of 2020, while small businesses across America struggled to survive the economic devastation of the COVID-19 pandemic, Darren Carlyle Sadler was living a very different reality. The 38-year-old Costa Mesa businessman had discovered what he believed was the perfect opportunity hidden within the chaos of the federal government's rushed response to the crisis.

Stephanie Hockridge and her husband, Nathan Reis, co-founded Blueacorn in April 2020 at the height of the pandemic panic. The platform was positioned as a rapid-response solution for distributing PPP funds to small businesses locked out of traditional banking channels. But according to federal prosecutors, Blueacorn became a machine of fraud, processing over $12.5 billion in loans while implementing virtually no guardrails to prevent abuse.

Federal prosecutors continue their aggressive pursuit of Paycheck Protection Program (PPP) fraud, with two recent high-profile convictions demonstrating that the Department of Justice remains committed to holding fraudsters accountable nearly five years after the pandemic began.

Stephanie Hockridge, once a familiar face as a Phoenix news anchor, now stands at the center of one of the most significant fraud cases to emerge from the COVID-19 pandemic. Alongside her husband, Nathan (Nick) Reis, Hockridge is set to stand trial for alleged wire fraud and conspiracy related to the Paycheck Protection Program (PPP), a federal initiative designed to help small businesses survive the economic fallout of the pandemic.

Smallwood, who was part of the Eagles' Super Bowl-winning team, is accused of submitting fraudulent applications to both the Economic...

They put the burden of proof on the person they're accusing of having the loan.

Now here we are over 2 and a half years after the program rolled out and tens of billions are assumed as fraud with much of it likely never

Here's why there are more troubled times ahead for those who took out PPP loans under fraudulent circumstances.

Media reports of criminal complaints and arrests have picked up pace in the last month or so.