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How a San Diego CPA Turned Tax Forms Into a $5M Fraud Machine
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Subscribe08 JUN 2026 / ACCOUNTING & TAXES
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Oladapo Olagbemi, a 72-year-old CPA from San Diego, has pleaded guilty to federal charges for filing thousands of false tax returns between 2019 and 2023, generating more than $5m in improper deductions and credits for clients. Olagbemi has been sentenced to pay at least $1.5m in restitution for tax losses linked to his schemes, preparation of false returns, banned from preparing tax returns for others in the future, and his sentencing has been scheduled for August 2026. The case underscores the enhanced vigilance of the IRS and DOJ towards fraudulent tax returns prepared by professionals.
What happens when a trusted CPA turns tax forms into a fraud machine? For Oladapo Olagbemi, a 72-year-old San Diego CPA, it led to a federal guilty plea, a lifetime ban from preparing tax returns, and a sentencing scheduled for August 28, 2026. Olagbemi o...
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