Bad lesson: Accounting professor at Drexel University charged with allegedly using creative bookkeeping to evade millions in taxes
By Lukas I. Alpert
Professor Gordian Ndubizu is accused of retaining phony books for a pharmacy small business he ran and wiring earnings abroad to stay away from shelling out taxes.
Here is a lesson in do as I say, not as I do.
A extended-time accounting professor at Drexel University’s business enterprise school has been charged with tax evasion and filing phony returns for allegedly employing artistic bookkeeping actions to hide revenue he transferred abroad.
Gordian Ndubizu, 67, of Princeton Junction, N.J., is accused of inflating charges to a pharmacy enterprise he ran with his spouse in buy to underreport their true income by hundreds of thousands of dollars, prosecutors mentioned.
In all, Mr. Ndubizu is accused of failing to declare additional than $3.3 million in profits that his Trenton business enterprise, Health care Pharmacy, took in in between 2014 and 2017. That resulted in him allegedly underpaying what he owed to the IRS by $1.3 million, authorities stated.
He is also billed with declaring certain big wire payments as company fees, when they ended up in fact transfers of funds to an automobile organization he ran in Nigeria, prosecutors explained.
He was billed Thursday with 4 counts of tax evasion and four counts of filing a fake tax return. His wife, Florence, was also charged on Thursday for separate alleged federal drug offenses, but was not billed in the tax scenario.
An attorney symbolizing each of them at their original courtroom listening to failed to instantly return a get in touch with looking for remark.
Gordian Ndubizu began teaching accounting at Drexel University’s LeBow University of Company in Philadelphia in 1987, in accordance to a discrimination fit he filed from the higher education in 2007, the 2nd he filed versus the university. He was victorious in the initially case, but missing the next, in accordance to court docket information.
In 2012, he was awarded an remarkable Global accounting educator award by the American Accounting Association.
A agent for Drexel failed to right away reply to a information trying to get comment.
-Lukas I. Alpert
(Stop) Dow Jones Newswires
05-13-22 1158ET
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