Blueacorn Founders

Blueacorn was a fintech company that helped small businesses apply for PPP loans during the pandemic. The company’s founders, Nathan Reis and Stephanie Hockridge, have been indicted for PPP loan fraud, accused of submitting fake applications with fraudulent documents and charging illegal kickbacks. They face wire fraud and conspiracy charges, each carrying up to 20 years in prison.

Reporting:

• Blueacorn Founders Indicted for Facilitating PPP Fraud & Illegal Kickbacks – November 29, 2024
• SBA Bans Blueacorn for PPP Fraud – 8 Lenders Associated with Service Providers to be Fully Investigated by SBA – December 8, 2022
• Fintechs Facilitated PPP Fraud Says Select Subcommittee in 130-Page Investigative Report – December 2, 2022

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Sources:
Select Subcommittee on the Coronavirus Crisis Report