PITTSBURGH — A former CEO of a company that hired staff for medical facilities was charged Friday in federal court in a fraud and tax evasion scheme that prosecutors say caused shareholders to lose more than $200 million.

Richard McDonald of Leechburg was accused of diverting funds from World Health Alternatives to his personal bank account while serving as president and chief executive officer from 2003 to 2005, according to a 20-count indictment that was unsealed after a yearslong federal grand jury investigation.

In addition, McDonald is accused of failing to pay some $2.3 million in payroll taxes withheld from employees' salaries and evading personal income tax.

In the week in August 2005 when it became known the company's finances were being investigated, World Health's stock price plummeted from $3.55 per share to 49 cents.

McDonald, who could spend more than 30 years in prison if convicted, made no comment in court except to acknowledge his understanding of the charges against him.

He has been released on $100,000 bond.

World Health filed for bankruptcy after the investigation was revealed. In April 2006, Alpharetta, Ga.-based Jackson Healthcare Solutions bought World Health for $43 million plus $10 million for liabilities.