Paul Rush, founder and former CEO of Earful of Books, has been indicted on 17 federal charges for siphoning money from other ventures in what was allegedly an attempt to save the now-defunct audio retail chain, according to Publishers Weekly.

Rush, recently named vice president and associate publisher of Oasis Audio, was charged Feb. 16 at his Wheaton, Ill., home, according to the U.S. Attorney's office. He is charged with wire fraud, bank fraud and money laundering, among other charges, according to the indictment filed in federal court in Austin, Texas. Rush was allegedly a trustee for a trust set up to benefit the children of a friend. Between early 2001 and April 2002, he allegedly funneled more than $500,000 from the trust into his own pockets and into Earful of Books.

Earful of Books was one of the first audiobooks-only chain retailers. The company expanded quickly throughout the '90s, but filed for Chapter 7 in 2002.