Moody’s ex-GC pleads guilty for tax evasion, pays $3.2M in penalties

In an announcement made by federal prosecutors in New Jersey on Friday, a former long-term general counsel for Moody’s has admitted guilt to willfully failing to file his federal income tax returns. John Goggins, who resigned from his position as senior vice president and legal advisor at the company last fall after over two decades of service, earned $54 million between 2018 and 2021 but failed to submit corresponding US tax declarations during those years, according to authorities in New Jersey. Goggins pleaded guilty on Thursday before a federal magistrate judge based in the city of Newark, prosecutors said. He is scheduled for sentencing on September 6th.
Christopher Ferguson, one of Goggins’ lawyers, stated that “Mr. Goggins deeply regrets and accepts full responsibility for failing to file certain personal income tax returns”. The attorney further clarified that this was a private matter with no connection whatsoever to the work carried out by his client at Moody’s.
Moody’s spokesperson did not immediately respond when asked about Goggins’ departure and replacement as general counsel, which occurred in September of last year. Richard Steele now holds that role following an extended period understudy training arranged specifically to succeed Mr Goggin upon his eventual retirement from the company.
Goggins has reportedly already paid $3.2 million towards outstanding taxes, interest and penalties due as a result of these misdemeanor offenses, according to Ferguson’s statement released on Friday afternoon. The attorney added that Goggin intends to move past this situation promptly.