What Kind Of Company Was World Health Alternatives

What kind of company was World Health Alternatives? World Health Alternatives, Inc. was a provider of healthcare staffing services to hospitals and other healthcare facilities. The company included registered nurses, licensed practical nurses, certified nurse’s aides, allied health staff and physician staff. Support services staff and information technology staffing for clients in the many industries such as healthcare were provided as well. The clients of World Health Alternatives (WHA) included acute care hospitals, including community hospitals, teaching institutions and trauma centers, private physician’s practices, surgical and ambulatory care centers, nursing homes, pharmacies, medical clinics, and insurance companies located in or†¦show more content†¦He served as President, Chairman of the Board of Directors, Principal Financial Officer, Principal Accounting Officer, and Chief Executive Officer all during the time of employment for World Health Alternatives. McDonald was the company’s second larg est shareholder. What was he was convicted of? He has been sentenced to 130 months in prison followed by three years of supervised released. Richard was convicted of wire fraud, securities fraud, willful certification of false statements to SEC, failure to pay over payroll taxes, and income tax evasion. What was the crime committed? He transferred funds from WHA to his personal bank account and other accounts he had access and control too. Richard understated the amount of unpaid payroll taxes of WHA and its subsidiaries and by overstating the amount of loans made by him to WHA. As a result the financial statements and records were manipulated. He also directed purchasers of new issued shares to transfer the funds of the shares to accounts under his control. Around $6 million was taken and spent. The market value of WHA and the earnings per share were also inflated and overstated as well. This happened because of Richard falsely giving records to the SEC, WHA shareholders, and perspective new purchasers of stock by understating the real number of outstanding shares in the company’s financial statements. World Health Alternatives lost $41 million in total from all of the fraudulent activity.