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Drexel University Accounting Prof Indicted for $1.2 Million in Tax Evasion

Drexel University Accounting Prof Indicted for $1.2 Million in Tax Evasion

“charges that he underreported over $3 million in business income”

If anyone would knows the inside tricks for something like this, it would be an accounting professor.

The College Fix reports:

Drexel accounting professor indicted for $1.2 million tax evasion

A federal grand jury indicted a Drexel University accounting professor on charges that he underreported over $3 million in business income, leading to unpaid taxes of over $1.2 million.

“Gordian A. Ndubizu [pictured], 67, of Princeton Junction, New Jersey, is charged in an eight-count indictment unsealed today with four counts of tax evasion and four counts of filing false tax returns in tax years 2014 through 2017,” the Department of Justice announced Thursday.

The DOJ stated:

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 Ndubizu and his wife. Ndubizu identified certain wire transfers as payments to purchase goods sold by the pharmacy when these wire transfers were in fact made to personal bank accounts under Ndubizu’s control and to bank accounts in Nigeria associated with an automotive company under Ndubizu’s control.

“Each of Ndubizu’s tax returns for tax years 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 federal government alleged. “Ndubizu failed to report approximately $3.3 million in income from the pharmacy, resulting in the evasion of approximately $1.3 million in tax due and owing.”

Florence Ndubizu, the professor’s wife, also faces federal charges related to the pharmacy business. The DOJ announced separately that she has been accused of “distributing and dispensing…large quantities of oxycodone and other controlled substances from a pharmacy.”

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Comments

henrybowman | May 14, 2022 at 4:09 pm

First time it’s been a man in these academic fraud articles in a while, now.

The IRS has some pretty fancy credentialed accountants, too. Last time I got audited, my auditor boasted to me that he had a “Masters in Taxation.” I responded that any society that offered such a degree was no longer viable.

Any and all Drexel accounting students should sue immediately for maleducation.

After all, how good an elite accounting professor could he have been if he couldn’t even embezzle a few million?

Hilariously, I believe he is Nigerian. He would have done better scamming folks on the internet.