Scandalous bath image central to high-glamor ex-news anchor's fraud court case
In the Heart of Texas, a Fraud Trial Takes Center Stage
Photographs of money stacks, Rolex watches, and text messages labeled as 'MVP' are among the tantalizing pieces of evidence expected in the upcoming fraud case of Stephanie Hockridge-Reis, a former ABC anchor, currently standing trial in Fort Worth, Texas.
Facing charges of one count of conspiracy to commit wire fraud and four counts of wire fraud, Hockridge-Reis entered a plea of not guilty and risks up to 100 years in prison if convicted. Her husband, Nathan Reis, is scheduled for a separate trial in August.
The couple are accused of defrauding the government during the Covid pandemic by submitting false applications for Payment Protection Program (PPP) loans on behalf of themselves and their business, Blueacorn. The US Small Business Administration provided aid to keep businesses afloat through PPP under the Coronavirus Aid, Relief and Economic Security Act.
An exhibit list unveiled by prosecutors hints at a trial filled with intrigue. Alongside the hide-worthy bathtub photograph and images of bundles of $100 bills, the list includes text messages and a Rolex watch—items that could potentially strengthen the prosecution's case.
The trial commenced with a superseding indictment filed last month, accusing the couple and their co-conspirators of fabricating documents, including payroll records, tax documents, and bank statements. The duo allegedly recruited people to act as referral agents, coach borrowers on submitting false PPP loan applications, and charged clients with illegal fees based on a percentage of funds received.
Evidence suggests that the couple went to great lengths to manipulate the loan system, including falsely stating that an entity had employees, claiming to have an Amazon business that earned over $100,000, and even claiming to be an African American veteran. The couple reportedly received loans, which were then transferred using interstate wires to another bank account.
If convicted, the couple could face up to 20 years in prison for each count. As the trial progresses, witness testimonies from former associates and clients, as well as documentation of submitted loan applications and financial transactions, will play a crucial role in determining the Reises' fate in the cities' courts.
Past Business Partners Speak Out
Further complicating matters, it's been revealed that Eric Karnezis and his brother Anthony Karnezis, who both pleaded guilty to conspiring to commit wire fraud earlier in the year, were association with the Reises. As part of their plea agreements, the Karnezis brothers agreed to pay restitution to victims, with Eric agreeing to pay between $25 million and $65 million, and Anthony agreeing to pay between $3.5 million and $9.5 million.
- In the trial, evidence such as photographs of money stacks, Rolex watches, and text messages may strengthen the prosecution's case in the general-news category, as it involves a fraud case in science and business, related to the Payment Protection Program (PPP) under the Coronavirus Aid, Relief, and Economic Security Act.
- The trial of Stephanie Hockridge-Reis and Nathan Reis, extends beyond their individual actions, as they are accused of collaborating with others, including Eric and Anthony Karnezis, in a crime-and-justice matter, where they allegedly defrauded the government and charged illegal fees.
- As witness testimonies from former associates and clients, as well as documentation of submitted loan applications and financial transactions, are presented in the court, the trial will delve into the political sphere, since the fraud case involves the misuse of funds intended to help businesses during the Covid pandemic.
