Mercer Accounting Professor Convicted Of Tax Evasion: Feds

MERCER COUNTY, NJ — A Mercer County accounting professor was convicted of evading federal income taxes and filing false tax returns, U.S. Attorney Philip R. Sellinger said Friday.

Gordian A. Ndubizu, 69, of Princeton Junction, was convicted on Aug. 15, of tax evasion and filing false tax returns from 2014 through 2017.

From 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.

Income from Healthcare Pharmacy flowed through to Ndubizu and his wife and was to be reported on their personal income tax returns, according to court documents.

In their court filings, authorities said 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 the couple.

Ndubizu also identified certain wire transfers as payments to purchase goods sold by the pharmacy when these 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, according to court documents.

Each of Ndubizu’s tax returns for 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, the feds said.

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, Sellinger said.

Each count of tax evasion carries a maximum potential penalty of five years in prison and a maximum fine of $250,000.

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.

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