MANHATTAN, NEW YORK CITY: Michael Olson, a 54-year-old financier from New York City, appeared in a Manhattan courtroom in handcuffs on Tuesday, June 27, as he faces charges of rape and drugging of a minor. The accused allegedly targeted young Asian girls on Instagram, specifically those who expressed financial difficulties or posted about self-harm.
The charges against Olson stem from an incident in a Midtown Manhattan hotel room, where a 14-year-old girl he was with overdosed on a dangerous combination of cocaine, ketamine, and Xanax. The incident led to his arrest and subsequent court appearances.
Bail Denied
During his last court appearance, Olson faced a compliance matter and was denied bail. His attorney, Jeffrey Lichtman, expressed his client's distress over the denial. The prosecution revealed disturbing evidence suggesting Olson's predatory behavior, including the presence of a screenshot of the New York City public school calendar on his phone. Additionally, records of pick-ups and drop-offs from elementary and middle schools in NYC were allegedly found.
According to the New York District Attorney's Office, the accused discovered the victim's Instagram profile in December 2022, where she had expressed concerns about expensive clothes. Olson reportedly sent her a gift card for clothing and began paying her to spend time with him. Prosecutors claim that over a span of six months, Olson repeatedly raped the young girl, providing her with $700 weekly to engage in sexual acts with him in hotels located in Manhattan and Queens.
Disturbing Spreadsheet and Travel Allegations
The prosecution also revealed that Olson maintained a spreadsheet documenting the drugs he administered to young girls and with whom he had exchanged messages. Manhattan prosecutor John Fuller highlighted the chilling details, stating, "In his own words, he detailed how he would pay them first to meet with him, and then pay them more if they performed oral sex on him or have intercourse with him." It was further alleged that the girl found in the hotel room had accompanied Olson on trips to Los Angeles, Las Vegas, and Miami. Prosecutors claimed that Olson masqueraded her as his daughter during these trips to avoid arousing suspicion.
Authorities were alerted to Olson's illicit activities on May 26, when the victim suffered an overdose of cocaine and ketamine in their Manhattan hotel room. The police discovered various disturbing items in the room, including sex objects like vibrators, handcuffs, rope, lubricant, and condoms. Prosecutors quoted Fuller as saying, "The defendant said he brought these objects to the hotel that day as gifts [to] a 14-year-old girl." Olson's iPad, retrieved from the scene, contained his sickening spreadsheet, as well as screenshots of underage girls, the public school schedule, and visits to forums discussing "rape kink."
New Arrest Warrant
Following his initial arrest, Olson was released on a $1 million bond while the victim recovered from the overdose in a hospital. Shockingly, despite being electronically monitored, Olson continued to contact girls aged between 13 and 15 years old. Prosecutor Fuller stated earlier this month, "After posting bail on the instant matter at criminal court arraignment, the defendant changed his phone number and continued to reach out to 13- and 15-year-old girls who've been identified as victims in this scheme, as recently as this week." These actions led to the issuance of a new arrest warrant for Olson on June 13.
Subsequently, Olson was indicted on a range of serious charges, including one count of criminal sale of a controlled substance to a child, five counts of rape in the second degree, seven counts of aggravated patronizing of a minor for prostitution in the second degree, two counts of criminal sexual act in the second degree, one count of facilitating a sex offense with a controlled substance, and one count of endangering the welfare of a child. This time, however, he was remanded without bail.
Employer's Response
Dwight Mortgage Trust, the firm where Olson was employed, confirmed his termination in a statement to the New York Post. A spokesperson expressed their shock and horror at the allegations, stating, "The allegations are horrific and our hearts go out to the victims and their families. We will cooperate fully with any request by law enforcement regarding Mr Olson." The investigation into Michael Olson's actions is ongoing, and Manhattan District Attorney Alvin Bragg's office is urging any additional victims to come forward, the Post reported.
