Project Veritas ditches founder James O'Keefe over, among other things, him squandering its money on his musical theater dreams

James O'Keefe was always a theater kid, and after years of making things up, it's finally brought him down. He's being fired from his own Project Veritas group after "squandering" its money on bizarre projects such as a musical production—and mundanely lavish nonsense such personal luxuries and trips.

"Currently, I have no job at Project Veritas. I have no position here based upon what the board has done — so I'm announcing to you all that today, on Presidents' Day, I'm packing up my personal belongings here," Mr. O'Keefe said in a video address to the group from its headquarters in Mamaroneck, N.Y.

The group's board later issued a statement saying that a preliminary review "indicates that James has spent an excessive amount of donor funds in the last three years on personal luxuries" and that more was being uncovered as the review continued.

The board cited as one example $14,000 that it said Mr. O'Keefe spent "on a charter flight to meet someone to fix his boat under the guise of meeting with a donor."