Friday, June 5, 2026
San Diego CPA pleads guilty in federal tax fraud case involving millions in false deductions
A San Diego CPA has admitted to preparing thousands of fraudulent tax returns that falsely claimed business losses, charitable deductions and energy credits, resulting in more than $5 million in improper tax benefits and at least $1.5 million in losses to
A San Diego certified public accountant has pleaded guilty to preparing thousands of fraudulent tax returns that generated more than $5 million in improper deductions and credits for clients, federal prosecutors announced June 4.
Oladapo Olagbemi, owner of D.A.O. Accounting, Consulting, and Taxation, pleaded guilty in federal court to four counts of aiding and assisting in the preparation of false tax returns. In a plea agreement signed shortly before the April 15 tax filing deadline, Olagbemi admitted carrying out multiple tax fraud schemes between 2019 and 2023.
According to court documents, Olagbemi helped clients obtain refunds by claiming deductions and tax credits for business expenses, charitable donations and residential energy improvements they were not entitled to receive.
Prosecutors said one of the schemes involved preparing false Schedules C and other tax forms that reported fictitious businesses and business losses. Between 2020 and 2023, Olagbemi prepared at least 5,470 individual tax returns that included Schedule C filings. Nearly 4,000 of those returns reported no gross receipts from the businesses, according to the plea agreement.
Authorities said the claimed losses totaled hundreds of thousands of dollars and were based on personal expenses that were not deductible. Olagbemi admitted knowing the taxpayers were not entitled to claim the losses or the resulting reductions in taxable income.
Federal prosecutors also said Olagbemi improperly used Form 2106, which is generally reserved for certain fee-based state and local government officials, to claim business expenses for clients who did not qualify. Between 2020 and 2023, he submitted at least 1,684 of those forms with client tax returns.
According to the plea agreement, Olagbemi increased his use of the form after learning the Internal Revenue Service was investigating his use of fraudulent Schedule C filings. Prosecutors said he continued filing the forms even after receiving notice from the IRS explaining their proper use.
In addition, Olagbemi admitted falsely claiming charitable contributions on Schedule A forms and preparing tax returns that improperly sought residential energy tax credits. Prosecutors said he advised clients to claim expenses for solar water heating systems that they had not purchased and were not eligible to claim.
As part of his plea and restitution agreements, Olagbemi agreed to pay at least $1.52 million in restitution to the government for tax losses resulting from the schemes between 2018 and 2023.
He also agreed to a permanent ban on preparing, assisting with, directing or supervising the preparation of federal tax returns for anyone other than himself.
Olagbemi is scheduled to be sentenced Aug. 28 before U.S. District Judge Ruth Bermudez Montenegro.
The case is being prosecuted by Assistant U.S. Attorney Peter Horn.
Oladapo Olagbemi, owner of D.A.O. Accounting, Consulting, and Taxation, pleaded guilty in federal court to four counts of aiding and assisting in the preparation of false tax returns. In a plea agreement signed shortly before the April 15 tax filing deadline, Olagbemi admitted carrying out multiple tax fraud schemes between 2019 and 2023.
According to court documents, Olagbemi helped clients obtain refunds by claiming deductions and tax credits for business expenses, charitable donations and residential energy improvements they were not entitled to receive.
Prosecutors said one of the schemes involved preparing false Schedules C and other tax forms that reported fictitious businesses and business losses. Between 2020 and 2023, Olagbemi prepared at least 5,470 individual tax returns that included Schedule C filings. Nearly 4,000 of those returns reported no gross receipts from the businesses, according to the plea agreement.
Authorities said the claimed losses totaled hundreds of thousands of dollars and were based on personal expenses that were not deductible. Olagbemi admitted knowing the taxpayers were not entitled to claim the losses or the resulting reductions in taxable income.
Federal prosecutors also said Olagbemi improperly used Form 2106, which is generally reserved for certain fee-based state and local government officials, to claim business expenses for clients who did not qualify. Between 2020 and 2023, he submitted at least 1,684 of those forms with client tax returns.
According to the plea agreement, Olagbemi increased his use of the form after learning the Internal Revenue Service was investigating his use of fraudulent Schedule C filings. Prosecutors said he continued filing the forms even after receiving notice from the IRS explaining their proper use.
In addition, Olagbemi admitted falsely claiming charitable contributions on Schedule A forms and preparing tax returns that improperly sought residential energy tax credits. Prosecutors said he advised clients to claim expenses for solar water heating systems that they had not purchased and were not eligible to claim.
As part of his plea and restitution agreements, Olagbemi agreed to pay at least $1.52 million in restitution to the government for tax losses resulting from the schemes between 2018 and 2023.
He also agreed to a permanent ban on preparing, assisting with, directing or supervising the preparation of federal tax returns for anyone other than himself.
Olagbemi is scheduled to be sentenced Aug. 28 before U.S. District Judge Ruth Bermudez Montenegro.
The case is being prosecuted by Assistant U.S. Attorney Peter Horn.
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