Man sentenced for $3.5 million, multi-year fuel credit tax fraud

ATLANTA - Joseph Oluwafemi Kolawole Akoshile has been sentenced for a $3.5 million tax fraud scheme relating to false tax returns claiming fuel tax credits.

“Akoshile used multiple aliases to steal millions of dollars from American taxpayers by fraudulently using a tax credit designed to aid business owners,” said U.S. Attorney Ryan K. Buchanan.  “He laundered the money through multiple accounts he controlled in a failed effort to disguise his criminal scheme.”    

“In order to carry out his long running financial fraud, Akoshile and his associates stole the identities of numerous people,” said Demetrius Hardeman, Acting Special Agent in Charge, IRS Criminal Investigation, Atlanta Field Office. “IRS CI special agents remain committed to investigating those who commit financial crimes, including identity theft.  Akoshile’s actions highlights the importance of protecting identifiable information.”

“The Treasury Inspector General for Tax Administration will aggressively pursue those who endeavor to defraud the Internal Revenue Service by exploiting programs which were established to provide assistance to American business owners,” said Mark Morini, Special Agent in charge of TIGTA’s Southeast Field Office.  “We appreciate the efforts of the U.S. Department of Justice and our law enforcement partners in this effort.”

According to U.S. Attorney Buchanan, the charges and other information presented in court: Joseph Oluwafemi Kolawole Akoshile committed a wide-ranging fraud that resulted in the issuance of more than 100 fraudulent treasury checks worth over $3.5 million.  For more than five years, Akoshile and others submitted federal corporate tax returns, claiming fraudulent refunds for a web of corporations set up using stolen identities.  The fraudulent tax returns claimed false fuel tax credits, resulting in large refunds.  The fuel tax credit is intended to assist legitimate businesses in offsetting fuel taxes they pay for off-road vehicles.  The defendant received the fraudulent refund checks and altered them to change the payee to a corporation created for the scheme.  Akoshile then laundered these funds through other accounts, including multiple business accounts he controlled in one of his many aliases.

Joseph Oluwafemi Kolawole Akoshile, 57, of Mansfield, Texas, was sentenced to four years, three months in prison to be followed by two years of supervised release and ordered to pay restitution in the amount of $3,606,990.10.  Akoshile was convicted on these charges on June 9, 2023, after he pleaded guilty.

This case was investigated by the Internal Revenue Service Criminal Investigation and U.S. Treasury Inspector General for Tax Administration.

Assistant U.S. Attorneys Christopher J. Huber and Alana Black prosecuted the case.

For further information please contact the U.S. Attorney’s Public Affairs Office at USAGAN.PressEmails@usdoj.gov or (404) 581-6016.  The Internet address for the U.S. Attorney’s Office for the Northern District of Georgia is http://www.justice.gov/usao-ndga.