YOUNGSTOWN, Ohio (WKBN)- According to federal court records, two former executives of a Youngstown construction company are accused of taking part in a scheme to defraud their company out of millions of dollars.

Former B&B Construction president Philip M. Beshara and former company treasurer Samuel J. DeCaria were both charged with wire fraud and conspiracy to commit wire fraud.

The case was filed in the United States District Court for the Northern District of Ohio on Oct. 5.

Court documents signed by both men state that they will forgo the usual prosecution by indictment for prosecution by information. That means that the case does not require a grand jury vote. Instead, a judicial officer will decide if there is probable cause that a crime occurred. An arraignment/change of plea hearing is scheduled for both men later this month.

According to a bill of information filing, Beshara and DeCaria conspired to defraud money from B&B Construction by putting $1.6 million from the company bank account into Beshara’s personal bank accounts. Records show that this occurred from March 2006 to September 2016.

Beshara would deposit company checks into his own account and would also oversee invoices from sub-contractors that he would inflate so that B&B would be charged a larger amount for their work, according to the filing. As a result, Beshara was able to retain the money and deposit it into his bank accounts.

Records said that Beshara and DeCaria conspired to cause checks to be issued for amounts related to inflated invoices.

As overseer of the company’s finances, DeCaria is also accused of not reporting Beshara’s fraudulent transactions, according to court records.

Patty Coller contributed to this report.