A former executive of Fasteners Inc. in Spokane Valley, WA, has been indicted by a federal grand jury for “allegedly using company money to pay for his children’s college tuition, a guided hunting trip and home improvement projects,” according to the Spokesman-Review.

Between 2013 and 2016, William Keith Jones – who held the positions of CFO and general manager – “knowingly and intentionally” devised a scheme to defraud the company, according to the Dec. 19 indictment filed in U.S. District Court in Eastern Washington.

“Jones is accused of using at least $120,648 in company funds for personal expenses, according to court documents,” writes Spokesman-Review reporter Becky Kramer. “He spent most of the money on tuition payments to Washington State University and Whitworth University, credit card bills and landscaping at his personal residence, the indictment says.”

Jones also allegedly used $8,000 in company funds paid to a British Columbia hunting outfitter, and $23,000 to purchase a 1979 Ford truck and modify the vehicle, the indictment says.

Jones tried to disguise his personal use of company money “by making false entries in the company’s internal records,” Kramer writes.

“Journal entries for the checks indicated the money was used for business expenses, such as utility bills, building signs and construction work, the documents say.”

After leaving the company, Jones allegedly gained remote access to his company email account and deleted his emails, according to the Spokesman-Review.

Jones is charged with 16 counts of wire fraud.

In a follow-up interview with the Spokesman-Review, Jones disputed the charges and said he has hired an attorney to defend him.

“I’ve got a sterling reputation in this town,” Jones told the Spokesman-Review. “When my side comes out before a judge and a jury, when they see all the evidence … I’m confident that I’ll be exonerated.”

Fasteners Inc. was sold to Fastenal Co. in 2015.