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

Here’s a lesson in doing as I say, not as I do.

A longtime professor of accounting at Drexel University Business School has been charged with tax evasion and misrepresentation for allegedly using creative accounting measures to conceal income he transferred abroad. .

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 underestimate his real profits by millions of dollars, prosecutors said. .

In total, Mr. Ndubizu is accused of failing to declare more than $ 3.3 million in profits that his Trenton business, Healthcare Pharmacy, earned between 2014 and 2017. This resulted in him allegedly paying $ 1.3 million. owed to the IRS, according to authorities. dit.

He is also accused of declaring certain important electronic payments as commercial costs, when in fact they were money transfers to a car business he was running in Nigeria, prosecutors said.

On Thursday, he was charged with four counts of tax evasion and four counts of filing a false tax return. His wife, Florence, was also charged Thursday with alleged federal drug offenses, but was not charged in the tax case.

A lawyer representing them both at their initial court hearing did not immediately return a call for comment.

Gordian Ndubizu began teaching accounting at LeBow College of Business at Drexel University in Philadelphia in 1987, according to a discrimination lawsuit he filed against the university 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 awarded him an International Outstanding Accounting Educator Award.

A Drexel representative did not immediately respond to a message requesting comments.

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