A federal court in Trenton has sentenced Gordian Ndubizu, a professor of Nigerian descent living in the United States, to two years in jail for tax evasion.
PUNCH In addition to being an accounting professor, Ndubizu co-owned a pharmacy business whose earnings were not disclosed, according to information obtained by Metro from a statement released by the US Department of Justice on Tuesday.
According to the statement, Ndubizu and his spouse operated a pharmacy that brought in around $3.28 million, which led to the avoidance of roughly $1.25 million in taxes that were owed between 2014 and 2017.
It read, “A Mercer County, New Jersey man was sentenced today to 24 months in prison for evading federal income taxes and filing false tax returns, acting U.S. Attorney Vikas Khanna announced.
“During tax years 2014 through 2017, Ndubizu was a professor of accounting at a university in Pennsylvania as well as the co-owner of Healthcare Pharmacy in Trenton, New Jersey. Healthcare Pharmacy was organised as an S corporation, the income of which flowed through to Ndubizu and his wife and was to be reported on their personal income tax returns.
“Ndubizu failed to report approximately $3.28 million in income from the pharmacy, resulting in the evasion of approximately $1.25 million in tax due and owing.”
The statement added that the couple prepared fraudulent tax documents and transferred the earnings from the pharmacy to an automobile company’s account in Nigeria which was controlled by the convict.
Ndubizu prepared fraudulent books and records for Healthcare Pharmacy inflating the pharmacy’s costs of goods sold to reduce and underreport the pharmacy’s actual profits flowing through to Ndubizu and his wife.
“In the fraudulent books and records, among other things, Ndubizu identified certain wire transfers as payments to purchase goods sold by the pharmacy when those wire transfers were made to personal bank accounts under Ndubizu’s control and to bank accounts in Nigeria associated with an automotive company under Ndubizu’s control.
“Each of Ndubizu’s tax returns for tax years 2014 through 2017 falsely underreported his income and falsely reported that he had no financial interest in or signature authority over any foreign bank accounts.”
