NEWARK, N.J. – In a brazen display of greed, John Goggins, 63, of Chatham, New Jersey, has admitted to willfully failing to file federal income tax returns, netting him a cool $54 million in unreported income from 2018 to 2021.
Goggins, a former senior vice-president and general counsel of a large publicly traded corporation, pleaded guilty before U.S. Magistrate Judge André M. Espinosa in Newark federal court on April 25, 2024, to a four-count information charging him with willfully failing to file federal income tax returns for tax years 2018 through 2021.
According to documents filed in this case and statements made in court, Goggins’s unreported income included wages, restricted stock awards, the exercise of annual nonqualified stock options, interest, dividends, and gains from stock sales. In total, he earned a staggering $54 million during these years, yet failed to file a single tax return.
The willful failure to file tax returns charges each carry a maximum potential penalty of one year in prison and a $100,000 fine, or twice the gross gain or loss from the offense. Any prison sentence imposed on Counts One through Four may run consecutively to each other. Sentencing is scheduled for Sept. 6, 2024.
U.S. Attorney Philip R. Sellinger credited IRS-Criminal Investigation, under the direction of Acting Special Agent in Charge Jenifer L. Piovesan with the investigation leading to the guilty plea.
The government is represented by Assistant U.S. Attorney Shontae D. Gray of the Economic Crimes Unit in Newark, and Trial Attorney Kenneth Vert of the Justice Department’s Tax Division.
As Grimy Times continues to expose the darkest corners of corruption and greed, we urge lawmakers to take action to prevent such egregious tax evasion in the future.
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Key Facts
- State: New Jersey
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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