Here is a lesson in doing as I say, not as I do.
A longtime accounting professor at Drexel University’s business school has been charged with tax evasion and filing false statements for allegedly using creative accounting measures to hide income he transferred to the stranger.
Gordian Ndubizu, 67, of Princeton Junction, NJ, is accused of inflating the costs of a pharmacy business he ran with his wife in order to underreport their actual profits by millions of dollars, prosecutors said .
In total, Mr. Ndubizu is accused of failing to report more than $3.3 million in profits his Trenton business, Healthcare Pharmacy, made between 2014 and 2017. This allegedly caused him to underpay this he owed the IRS $1.3 million, authorities said. said.
He is also accused of declaring certain large electronic payments as business expenses, when in fact they were money transfers to a car business he ran in Nigeria, prosecutors said.
He was charged on Thursday with four counts of tax evasion and four counts of filing a false tax return. His wife, Florence, was also charged on Thursday with alleged federal drug offenses but was not charged in the tax case.
A lawyer representing them both in their first hearing did not immediately return a call seeking comment.
Gordian Ndubizu began teaching accounting at LeBow College of Business at Drexel University in Philadelphia in 1987, according to a discrimination complaint he filed against the college in 2007, the second he filed against the school . He was victorious in the first case, but lost the second, according to court records.
In 2012, the American Accounting Association presented him with an Outstanding International Accounting Educator Award.
A representative for Drexel did not immediately respond to a message seeking comment.