Gordian A. Ndubizu, a 69-year-old accounting professor from Princeton Junction, New Jersey, was found guilty of tax evasion and filing false tax returns, a U.S. Attorney announced today.
According to the indictment, Ndubizu evaded federal income taxes and filed false tax returns for tax years 2014 through 2017, resulting in the evasion of approximately $1.25 million in tax due and owing.
The jury deliberated for two hours before returning the guilty verdict following a four-day trial before U.S. District Judge Zahid N. Quraishi in Trenton federal court.
Ndubizu, the co-owner of Healthcare Pharmacy in Trenton, New Jersey, was convicted on all eight counts of an indictment charging him with four counts of tax evasion and four counts of filing false tax returns.
During the trial, it was revealed that 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.
The evidence showed that Ndubizu failed to report approximately $3.28 million in income from the pharmacy, resulting in the evasion of tax due and owing.
Each count of tax evasion carries a maximum potential penalty of five years in prison and a maximum fine of $250,000, while each count of filing a false tax return carries a maximum potential penalty of three years in prison and a maximum fine of $250,000.
U.S. Attorney Philip R. Sellinger credited special agents of IRS-Criminal Investigation Division with the investigation leading to the guilty verdict.
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Key Facts
- State: New Jersey
- Category: White Collar Crime, Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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