Adams and his Chief Financial Officer, Dana Lynn Sargent, reportedly failed to pay more than $445,000 in taxes, $41,000 to employees and did not pay about $35,000 for required unemployment insurance.
The defensive tackle played for the Bengals in 2006. During that season, Adams was one of the principal owners of the Cincinnati Jungle Kats, an arena football developmental league team. The team dissolved after one season.
Adams is set to be arraigned Feb. 18 and faces 21 theft and tax evasion charges.