The federal charges, filed in a "criminal information" Thursday in Philadelphia, charges Roosevelt Hairston Jr. with mail fraud, money laundering and filing a false tax return.
Prosecutors allege that Hairston created dozens of false invoices for shell companies dating back to 1999. They say he used the money to buy real estate, a luxury yacht and expensive cars.
Hairston has held various senior hospital positions, most recently general counsel and executive vice president. He was fired in February during the federal probe.
Hairston's attorney, Howard Bruce Klein, says his client is a devoted community servant who acknowledged involvement in financial irregularities during an internal hospital investigation.