Co-Founders of Paycheck Protection Program Lender Service Provider Charged for COVID-19 Relief Fraud Scheme

Nathan Reis and Stephanie Hockridge, co-founders of a PPP loan service provider, have been charged with submitting fraudulent COVID-19 relief loan applications for themselves and their businesses. The duo, based in Puerto Rico and formerly from Arizona, allegedly exploited their position as administrators of the Paycheck Protection Program to commit fraud.