The chief financial officer of the University of Florida Foundation was charged on Wednesday with embezzling $700,000.

Kenneth E. Hillier was arrested on Tuesday at the foundation's office, in Gainesville, by university police officers and was being held in Alachua County Jail. He had his first court appearance on Wednesday, when he was charged with four felony counts of theft. He is accused of writing four checks to himself that drew on foundation operating funds.

Mr. Hillier was fired the day he was arrested. He had worked for the foundation, which is the university's fund-raising arm, for 15 years, according to Chris Brazda, a foundation spokesman. Mr. Hillier was hired as the foundation's controller in 1988. He became the chief financial officer in 1995. Three years ago, he became assistant vice president for administration and finance, and he continued his duties as chief financial officer.

"This person was very well liked and very trusted," Mr. Brazda said on Thursday. "It's a complete shock."

Mr. Brazda said the problems surfaced this month, when another foundation employee discovered a foundation check, dated September 12, that was made out to Mr. Hillier for $228,631. Mr. Hillier has an account at the same bank as the foundation, and the check and a deposit slip were found among a stack of foundation deposits.

Officials began an investigation and discovered three more checks made out to Mr. Hillier, according to arrest documents. The first, dated October 25, was for $100,000. The next -- for $76,674, on July 7 -- was followed by a third, on August 19, for $294,695.

Investigators said they were still trying to determine if more money was involved. Officials also are reviewing the foundation's internal controls for handling funds.

The foundation "is taking immediate action to secure its funds and to ensure that this does not happen again," said Paul Robell, vice president for development and alumni affairs, in a prepared statement on Wednesday. The foundation has insurance that will cover the missing money, he said.