Former general counsel from Morris County sentenced to 8 months in prison for criminal tax offenses
CHATHAM, NJ (Morris County) – A Morris County man, and former general counsel for Moody’s, was sentenced Thursday to eight months in prison for willfully failing to file federal income tax returns, according to U.S. Attorney Philip R. Sellinger.
John Goggins, 63, of Chatham, previously pleaded guilty before U.S. Magistrate Judge André M. Espinosa to four-counts of 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, Goggins was a former senior vice-president and general counsel of a large publicly traded corporation. For the years 2018 through 2021, Goggins earned total gross income of $54 million from wages, restricted stock awards, the exercise of annual nonqualified stock options, interest, dividends, and gains from stock sales. Nevertheless, Goggins failed to file federal income tax returns for those years.
In addition to the prison term, Judge Espinosa sentenced Goggins to one year of supervised release, ordered restitution to the IRS of $3.11 million, which has already been paid, and fined him $40,000, Sellinger said.
“Mr. Goggins deeply regrets and has accepted full responsibility for his failure to file his tax returns. He is grateful to the Court for considering the comprehensive measures of accountability and restitution he has taken in connection with his misdemeanor offenses. He looks forward to putting this matter behind him and will be timely filing all tax returns going forward,” said a spokesperson for John Goggins.
