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Suburban tax professional sentenced to 10 years for stealing $2.5M from clients, investors: officials

By Cody King
Published  March 1, 2025 4:45pm CST
Crime and Public Safety
FOX 32 Chicago

The Brief

    • Adam Oliva, 43, of Rolling Meadows, was sentenced to 10 years in federal prison for stealing over $2.5 million from clients and investors.
    • Oliva pleaded guilty in two federal fraud cases, receiving a six-year sentence for one case and a four-and-a-half-year sentence for another, with the terms to run consecutively.
    • From 2015 to 2020, Oliva fraudulently kept client tax payments, filed false tax returns, and used investor funds for personal expenses like gambling and dining, the state's attorney's office said.

CHICAGO - A suburban tax professional was sentenced to 10 years in federal prison for stealing over $2.5 million from clients and investors, federal authorities said.

What we know:

Adam Oliva, 43, of Rolling Meadows, pleaded guilty last year in two federal fraud cases.

He was sentenced to six years in prison for one case and received a four-and-a-half-year sentence for the other.

The sentences will run consecutively, totaling 10 and a half years, according to the U.S. Attorney's Office.

The backstory:

Oliva operated as a tax professional under names including Oliva and Associates LLC and The Oliva Group LLC. 

From 2015 to 2020, he fraudulently convinced clients to pay him money for income taxes, which he instead pocketed, authorities said. He also admitted to filing false tax returns for clients to reduce the likelihood of IRS scrutiny.

In a separate case, Oliva reportedly took money from investors who believed it would fund short-term loans to clients.

Instead, he used the funds for personal expenses, including gambling, dining, and shopping, the attorney's office said.

The Source

  • The information in this article was provided by the U.S. Attorney's Office, Northern District of Illinois. 

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