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Pembroke Man Pleads Guilty to Misusing CARES Act Funds to Purchase a Golf Course
CONCORD, New Hampshire – Michael Kirouac, a 38-year-old resident of Pembroke, pleaded guilty to one count of wire fraud for misusing over $1 million in CARES Act funds to purchase a golf course.
According to court documents, Kirouac owned or controlled four companies: HK Manchester, HK Loudon, HK Hudson, and HK Pelham. He applied for and obtained over $1 million worth of Economic Injury Disaster Loans (EIDLs) for the companies. Kirouac certified that he would use the loan proceeds solely as working capital and would not use the funds for personal expenses or to relocate the businesses from one location to another.
However, Kirouac used approximately $600,000 of EIDL funds intended for HK Manchester and HK Loudon to help purchase the Angus Lea Golf Course in Hillsborough, New Hampshire. Kirouac also misused EIDL funds he obtained for HK Pelham.
In a separate incident, Kirouac obtained a $260,500 EIDL for HK Hudson, but had already agreed to sell HK Hudson to a third party at the time he signed for the loan. Kirouac did not disclose this fact to the Small Business Administration (SBA).
The charge of wire fraud provides for a sentence of up to 20 years in prison and a fine of $250,000 or twice the gross gain or loss, whichever is greater. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.
U.S. District Judge Joseph Laplante scheduled sentencing for January 15, 2026.
The investigation was led by the Department of Veterans Affairs’ Office of the Inspector General, IRS Criminal Investigations, and SBA’s Office of the Inspector General. The Department of Justice’s Money Laundering and Asset Recovery Section provided valuable assistance. Assistant U.S. Attorney Alexander S. Chen is prosecuting the case.
During the early part of the coronavirus pandemic, Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act. The CARES Act included multiple relief provisions to help the millions of Americans and many small businesses adversely affected by the pandemic, including the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL) program.
On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud.
Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline at 866-720-5721.
Key Facts
- State: New Hampshire
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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