A former Mansfield tax preparer has been sentenced to nearly five years in federal prison for his involvement in a tax fraud scheme, announced Acting U.S. Attorney for the Northern District of Texas Chad E. Meacham.
Festus Adenisimi, 65, pleaded guilty in September 2024 to one count of Conspiracy to Defraud the United States. On March 6, 2025, U.S. Senior District Judge Barbara M. G. Lynn sentenced Adenisimi to 57 months in federal prison and ordered him to pay $10,283,737.65 in restitution.
According to court records, Adenisimi owned FA Tax, a tax preparation business where he and other preparers submitted fraudulent tax returns, often resulting in clients receiving illegitimate refunds. Adenisimi also admitted to filing false tax returns for himself.
As part of his plea agreement, Adenisimi acknowledged fraudulently obtaining two Paycheck Protection Program (PPP) loans totaling $760,415 under the Small Business Administration’s COVID-19 relief program. The court ordered Adenisimi to pay restitution for both the tax fraud and PPP loan fraud.
IRS-Criminal Investigations conducted the investigation. Assistant U.S. Attorney Marty Basu prosecuted the case.
