Case Highlights

The following are highlights of our work during the October 1, 2025–March 31, 2026, 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 Executive Convicted of Bank Fraud in Nebraska
Aaron T. Luneke was convicted by a jury of bank fraud and attempted bank fraud. Abusing his position as chief financial officer of a Nebraska bank, Luneke submitted fraudulent and inflated invoices from contractors to obtain $4.3 million in loans from his bank. He also attempted to defraud another bank for a $3.5 million refinancing loan.

Cofounders of Lender Service Provider Sentenced to Prison for $65 Million Pandemic Relief Fraud
Stephanie Hockridge and Nathan Reis were each sentenced to 10 years in prison and ordered to pay restitution of $63 million and $66 million, respectively, for a scheme to defraud the Paycheck Protection Program (PPP). As cofounders of Blueacorn, a lender service provider based in Arizona, Hockridge and Reis conspired to submit fraudulent PPP loan applications and charge borrowers illegal kickbacks.

New York Developer Charged for $8 Million Pandemic Relief Fraud
David Ebrahimzadeh, a New York real estate developer and investor, was indicted by a federal grand jury for a scheme to defraud the PPP and other pandemic relief programs. Ebrahimzadeh allegedly applied for and received $8.5 million in loans using false and fraudulent information, and then used the proceeds to buy luxury items and real estate.