Cape Elizabeth Man Settles COVID Loan Misuse Allegations for $1.24 Million
A Cape Elizabeth,Maine man has agreed to a $1.24 million settlement with the U.S. government to resolve allegations of misusing funds from the COVID-19 Economic injury and Disaster Loan program. Christopher Hooper, 52, obtained the loans both personally and through his business, Hooper Consulting, LLC.
Federal prosecutors allege Hooper improperly used the low-interest loans, intended to support businesses struggling during the pandemic, for personal expenses and investments. While the U.S. Attorney’s Office for the District of Maine announced the settlement Monday, they emphasized that “the claims resolved by the settlement are allegations only and there has been no determination of liability.”
The loans were designed to cover ordinary business costs such as rent and payroll.Though, prosecutors claim Hooper simultaneously applied for reduced monthly payments citing financial hardship while also making “large transfers to his personal checking and savings account” and spending significant sums on luxury items, including high-end interior design, home improvements, and a $10,000 payment to a Land Rover dealership.
Hooper’s attorney,Timothy Zerillo,stated his client agreed to repay the government “in full,and then some.” Zerillo described the agreement as a civil settlement, adding, “Mr. Hooper was pleased to work with the government to resolve this case by way of agreement without acknowledging any liability on his part. it is indeed a win-win.”
The U.S.Attorney’s Office did not disclose the total amount of loans Hooper initially received.
