A former Arizona news anchor and her husband face life in prison if convicted of involvement in a scandal aimed at fraudulently obtaining state Covid-19 funds.

Stephanie Hockridge-Reis, 41, and her husband, Nathan Reis, 45, were charged with one count of conspiracy to commit fraud and four counts of fraud, This was announced by the Ministry of Justice Friday.

If convicted, the couple could face up to 20 years in prison on each count.

The married couple allegedly submitted false and fraudulent Paycheck Protection Program loan applications on behalf of themselves and their company, Blueacorn.

Hockridge-Reis and Reis co-founded the company in April 2020, after Hockridge-Reis left her position at ABC affiliate Channel 15 KNXV-TV – a job she held for seven years.

The couple’s company was founded with the aim of helping small businesses and individuals obtain OPS loans.

The indictment, unsealed Friday, alleged the couple fabricated documents they submitted in their loan applications to obtain loan funds they were not eligible for, according to court documents.

Further investigation of the couple revealed that they had allegedly charged their clients illegal fees for their services based on a percentage of the funds received, the DOJ said.

Hockridge-Reis and Reis have also been accused of directly charging some applicants a 10 percent fee to successfully obtain a loan, a violation of Small Business Administration rules.

Stephanie Hockridge-Reis, 41, a former news anchor in Arizona, and her husband face life in prison if convicted of involvement in a scandal aimed at fraudulently obtaining government funds. Pictured: Hockridge-Reis on set at ABC’s Channel 15

Stephanie Hockridge-Reis, 41, and her husband, Nathan Reis, 45, were charged with one count of conspiracy to commit wire fraud and four counts of wire fraud, the Justice Department announced Friday. Pictured: Hockridge-Reis and her husband, Nathan Reis

Hockridge-Reis was summoned to a court in Dallas, Texas on November 25

A review of the loans showed what the couple was willing to do for the money — including Reis claiming in an application that he was African-American and a veteran.

Other evidence revealed Hockridge-Reis describes the PPP as “$100 billion of free money.”

Yet, although the PPP loans were set up for small businesses, Hockridge-Reis allegedly told her staff “Who the hell cares.” We are not the first bank to turn down borrowers who deserve to be funded… They can go elsewhere.’

The US Small Business Administration guaranteed support to keep businesses afloat during the COVID-19 pandemic through the Paycheck Protection Program under the Coronavirus Aid, Relief and Economic Security Act.

The DOJ also alleges that the couple recruited people to work as referral agents who allegedly coached borrowers on how to submit fake PPP loan applications.

As part of the alleged scheme, the duo collected and reviewed the applications of potential borrowers on behalf of the lenders.

The pair then worked with the lenders to submit applications to the US Small Business Administration in exchange for a percentage of the fees paid to the lenders, the DOJ said.

Hockridge-Reis was summoned to a court in Dallas, Texas on November 25.

An attorney for the couple could not be reached for comment.