SAN DIEGO, California — Oladapo Olagbemi, a 72-year-old certified public accountant from San Diego, pleaded guilty in federal court to filing thousands of false income tax returns, resulting in over $5 million in improper deductions and credits.
Olagbemi, who managed D.A.O. Accounting, Consulting, and Taxation, admitted to aiding and assisting in the preparation of false tax returns between 2019 and 2023, according to a press release from the Internal Revenue Service Criminal Investigation. He signed a plea agreement before tax day, April 15, 2026, acknowledging multiple schemes to secure illegitimate refunds for clients by falsely claiming business expenses, charitable gifts, and energy credits.
Scheduled for sentencing on August 28, 2026, before U.S. District Judge Ruth Bermudez Montenegro, Olagbemi faces charges that carry a maximum penalty of three years in prison and a fine of up to $250,000 per count. The plea agreement details his preparation of false Schedules 1, C, and E, reporting non-existent business losses and non-deductible personal expenses for clients…