Bad lesson: Accounting professor at Drexel University charged with allegedly using creative bookkeeping to evade millions in taxes

Jene J. Long

Right here is a lesson in do as I say, not as I do.

A extended-time accounting professor at Drexel University’s small business university has been billed with tax evasion and filing false returns for allegedly making use of imaginative bookkeeping measures to cover profits he transferred abroad. 

Gordian Ndubizu, 67, of Princeton Junction, N.J., is accused of inflating prices to a pharmacy business he ran with his wife in get to underreport their true income by thousands and thousands of pounds, prosecutors explained.

In all, Mr. Ndubizu is accused of failing to declare a lot more than $3.3 million in gains that his Trenton company, Health care Pharmacy, took in concerning 2014 and 2017. That resulted in him allegedly underpaying what he owed to the IRS by $1.3 million, authorities said.

He is also billed with declaring selected huge wire payments as business enterprise fees, when they ended up really transfers of funds to an vehicle business he ran in Nigeria, prosecutors claimed.

He was billed Thursday with 4 counts of tax evasion and 4 counts of submitting a false 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 representing each of them at their original court docket hearing didn’t promptly return a phone trying to get comment.

Gordian Ndubizu began educating accounting at Drexel University’s LeBow School of Business enterprise in Philadelphia in 1987, in accordance to a discrimination accommodate he submitted against the college or university in 2007, the 2nd he submitted versus the college. He was victorious in the initially situation, but dropped the second, in accordance to court docket records.

In 2012, he was awarded an fantastic Intercontinental accounting educator award by the  American Accounting Affiliation.

A representative for Drexel did not immediately reply to a concept trying to find comment.

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