North Texas tax preparer sentenced to prison, ordered to repay millions
MANSFIELD, Texas - A former tax preparer from Mansfield is headed to federal prison and must repay more than $10 million after pleading guilty in a case involving false tax returns.
What we know:
According to the U.S. Attorney’s Office for the Northern District of Texas, Festus Adenisimi pleaded guilty in September to conspiracy to defraud the United States.
The 65-year-old was the owner of FA Tax Service, a tax preparation business in Grand Prairie.
He and other tax preparers at the business were accused of filing fraudulent tax returns for their clients, which often resulted in refunds.
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Dallas man sentenced to more than 13 years in multi-million dollar insurance fraud
A Dallas man who is considered the architect of a nearly $5 million insurance fraud was sentenced to more than 13 years in federal prison on Thursday.
Adenisimi also admitted to falsely preparing his own tax returns and fraudulently obtaining two Paycheck Protection Program loans totaling more than $760,000, federal prosecutors said.
Last week, a judge sentenced him to nearly five years in federal prison.
He was also ordered to pay $10,283,737.65 in restitution for the tax fraud and PPP loan fraud.
What we don't know:
The U.S. Attorney’s Office did not provide a photo or mugshot for Adenisimi.
Prosecutors also didn’t share details on how the fraud was discovered.
The Source: The information in this story comes from a news release from the U.S. Attorney’s Office for the Northern District of Texas.