MERCER COUNTY, NJ – Gordian A. Ndubizu, a former accounting professor from Princeton Junction, New Jersey, was sentenced to 24 months in federal prison after being convicted of multiple charges related to tax evasion and filing fraudulent tax returns. The conviction was announced by Acting U.S. Attorney Vikas Khanna on August 15, 2024, following a four-day trial before U.S. District Judge Zahid N. Quraishi.
Ndubizu, who was employed as an accounting professor at a Pennsylvania university and co-owned Healthcare Pharmacy in Trenton, New Jersey, was convicted on all eight counts of an indictment. These included four counts of tax evasion and four counts of filing false tax returns for the years 2014 through 2017. During the trial, prosecutors presented evidence that Ndubizu engaged in significant financial manipulation in order to reduce his taxable income and evade his tax responsibilities.
Fraudulent Financial Practices
Ndubizu used his position and access to financial records to systematically deflate the profits of his pharmacy business, an S corporation. By inflating the cost of goods sold, Ndubizu artificially lowered his reported taxable income, effectively evading millions of dollars in taxes. According to court documents, investigators found that:
Ndubizu falsely categorized wire transfers as legitimate business expenses when, in fact, the transfers were for personal transactions.
Some of the funds were traced to bank accounts in Nigeria, linked to an automotive business operated by Ndubizu.
Over a span of several years, he failed to report $3.28 million in income, leading to a total of $1.25 million in unpaid taxes.
Ndubizu also falsely declared on his tax returns that he had no financial interest in foreign bank accounts, despite having evidence to the contrary.
Impact and Investigation
This conviction resulted from a meticulous investigation led by the IRS Criminal Investigation Division, under the direction of Special Agent in Charge Jennifer L. Piovesan in Newark. Agencies such as the Drug Enforcement Administration (DEA), the Trenton Police Department, and the Mercer County Prosecutor’s Office also played key roles in uncovering Ndubizu’s fraudulent activities.
In addition to his 24-month prison sentence, Ndubizu faces further financial penalties and restitution requirements, including paying back the substantial amount in taxes he failed to report.
A History of Financial Deception
The case illustrates the serious consequences of engaging in financial fraud, especially by a professional in the accounting field who was expected to uphold the law. While Ndubizu’s actions were motivated by personal financial gain, they also underscore the broader importance of tax compliance and transparency, particularly in positions where one holds responsibility over financial dealings.
The prosecution was handled by Assistant U.S. Attorneys Alexander E. Ramey and Ashley Super Pitts from the U.S. Attorney’s Office Criminal Division in Trenton.
As part of the sentence, Ndubizu will serve his time in federal prison, where he will be required to face the full scope of the charges brought against him.
The case also serves as a reminder that even those with significant knowledge of financial systems and accounting principles are not immune to the law, especially when they use their expertise to intentionally deceive and defraud the government and taxpayers.
Conclusion
Ndubizu’s sentencing marks a significant moment in the ongoing efforts to hold individuals accountable for financial fraud and tax evasion. As the investigation unfolded, it was clear that his actions impacted not only his personal finances but also undermined the integrity of the financial systems within which he worked. The conviction sends a strong message that fraud and evasion will not be tolerated, no matter the position held by the offender.
This case continues to highlight the importance of financial transparency and legal compliance for all individuals, regardless of their professional background or expertise.
