By: Najla Alexander
NJ authorities announced that a Morris County man and former general counsel for a large public corporation admitted willfully failing to file federal income tax returns.
U.S. Attorney Philip R. Sellinger said John Goggins, 63, of Chatham, pleaded guilty before U.S. Magistrate Judge André M. Espinosa in Newark federal court on April 25, 2024, to a four-count information charging him with willfully failing to file federal income tax returns for tax years 2018 through 2021.
According to documents filed in this case and statements made in court:
Officials stated Goggins was a former senior vice president and general counsel of a large publicly traded corporation.
For the years 2018 through 2021, officials said, Goggins earned a total gross income of $54 million from wages, restricted stock awards, the exercise of annual non qualified stock options, interest, dividends, and gains from stock sales.
Goggins failed to file federal income tax returns for those years, officials say.
According to officials, the willful failure to file tax returns charges each carry a maximum potential penalty of one year in prison and a $100,000 fine, or twice the gross gain or loss from the offense.
Any prison sentence imposed on Counts One through Four may run consecutively to each other, officials said.
Authorities say sentencing is scheduled for September 6, 2024.