Mansfield business owner sentenced to 57 months in prison and ordered to repay millions for defrauding IRS and abusing pandemic relief funds
Mansfield, Texas – A former tax preparer from Mansfield has been sentenced to nearly five years in federal prison for his role in preparing fraudulent tax returns and fraudulently obtaining pandemic relief loans. Acting U.S. Attorney for the Northern District of Texas Chad E. Meacham announced the sentencing of 65-year-old Festus Adenisimi, who previously pleaded guilty to one count of conspiracy to defraud the United States.
Fraudulent Tax Returns and Illegally Obtained Relief Funds
Adenisimi, the owner of FA Tax, was involved in a scheme where he and other tax preparers at his business submitted fraudulent tax returns on behalf of clients. These false filings resulted in undeserved refunds issued by the Internal Revenue Service. Court documents revealed that Adenisimi even prepared fraudulent tax returns for himself, further exploiting the system for personal gain.
Beyond tax fraud, Adenisimi also admitted to illegally obtaining two Paycheck Protection Program (PPP) loans totaling $760,415 under the Small Business Administration’s COVID-19 relief program. The PPP loans, intended to help struggling businesses during the pandemic, were fraudulently secured through misrepresentations.
Court Imposes Prison Sentence and Restitution
On March 6, 2025, U.S. Senior District Judge Barbara M. G. Lynn sentenced Adenisimi to 57 months in federal prison. He was also ordered to pay $10,283,737.65 in restitution, covering both the tax fraud and PPP loan fraud.
The case was investigated by IRS-Criminal Investigations, and Assistant U.S. Attorney Marty Basu prosecuted the case. This sentencing highlights the continued efforts to hold individuals accountable for defrauding federal programs and cheating taxpayers.
