Case Highlights

The following are highlights of our work during the April 1, 2025–September 30, 2025, semiannual reporting period. Closed investigative reports are not made public and are subject to disclosure in accordance with applicable law. However, significant investigative results and other investigative statistics are reported in our semiannual report to Congress, as required by statute.

Former Bank General Counsel Sentenced to Prison for $7.4 Million Embezzlement Scheme
James Blose was sentenced in Connecticut to 48 months in prison for an embezzlement scheme he ran at banks where he held high-ranking positions. Over the course of a decade, he stole $7.4 million by fraudulently retaining closing costs from commercial loans, keeping sale proceeds from real estate transactions, and misusing his attorney trust accounts. He used the funds to purchase real estate, luxury vehicles, and private jet charters.

Investment Adviser Pleaded Guilty to $45.6 Million Bank Fraud Conspiracy
Jesse T. Hill, an investment adviser, pleaded guilty to conspiracy to commit bank fraud. He attempted to obtain at least $45.6 million in loans from numerous financial institutions in Nebraska and Iowa by misrepresenting collateral funds and preparing bogus supporting documents. Hill faces up to 30 years in prison and a $1 million fine. He agreed to pay restitution and forfeit any interest generated from the scheme.

Founders of Lender Service Provider Convicted, Pleaded Guilty for Multimillion-Dollar Pandemic Relief Fraud
Stephanie Hockridge was convicted and Nathan Reis pleaded guilty to a scheme to fraudulently obtain tens of millions of dollars in Paycheck Protection Program loans. As cofounders of Blueacorn, a lender service provider based in Arizona, they conspired to submit fraudulent PPP loan applications for small businesses and individuals, charging borrowers illegal kickbacks based on a percentage of the funds received. They each face up to 20 years in prison.