
Obviously, it is you who somehow involved your school as part of the ordering process, so that's on you.
Joffrey, it is YOU who has committed an illegal act, not the company. You commissioned a product for which you dishonestly did not pay. You had every opportunity to remit payment via a secondary method, but you did not, so your "bank mistake" garbage does not cut it.
The company is well within its rights to take any and all legal means necessary to make sure that you do/did not use its property in any way. In fact, given that you turned in the company's intellectual property for academic credit, the company can sue you in civil court for breach of contract, as well as stealing and misappropriating its property (regardless of the fact that you now claim to have "changed some things around").
Stealing copyrighted "ideas" is also illegal, so you really do not have a legal leg on which to stand.
The doctrine of "unclean hands" is also squarely against you.