Financier, 54, appears handcuffed in court as he’s accused of raping girl, 14, and plying her with drugs – as prosecutors claim he kept a NYC public school calendar and phone showed Uber pick ups from schools
A New York City financier has appeared in handcuffs in a Manhattan courtroom after being accused of raping a girl and plying her with drugs.
Michael Olson, 54, is accused of targeting young Asian girls on Instagram by seizing on ones who posted about not being able to afford clothes, or about self-harm.
Olson was charged after a 14-year-old child he was with overdosed on cocaine, ketamine and Xanax in a hotel room in Midtown Manhattan.
Earlier today he appeared at the New York Supreme Court for the second time in two weeks for what is said to have been a compliance matter.
During his last appearance in court, he was denied bail with his attorney Jeffrey Lichtman saying he was ‘very upset’.
Olson, pictured earlier today, is accused of targeting young girls on Instagram who posted about not being able to buy clothes or self-harm
Olson, pictured here in cuffs and in a prison uniform, appeared at the court on a compliance matter
According to police, Olson stored a screenshot of the New York City public school calendar on his phone.
There were also allegedly records of pick-ups and drop-offs from NYC elementary and middle schools.
According to the New York District Attorney’s Office, Olson had found the 14-year-old girl’s Instagram profile in December 2022 and responded to a post she made about clothes being too expensive.
They claim he sent her a gift card for clothing and began to pay her to spend time with him.
Prosecutors allege that for the next six months, Olson repeatedly raped the girl and paid her $700 a week to engage in sexual conduct with him at hotels in Manhattan and Queens.
Prosecutors say he kept a spreadsheet detailing the drugs he gave young girls, and who he’d sent messages to.
The girl he was allegedly found in the hotel with had also been on trips with him, traveling to Los Angeles, Las Vegas and Miami.
Prosecutors claimed he pretended she was his daughter on the trips to avoid suspicion.
Olson, pictured here at a hearing earlier this month, is said to have paid the teen $700 a week to engage in sexual conduct with him at hotels in Manhattan and Queens
Earlier this month he was arraigned in court and denied bond , which is said to have left him ‘very upset’
In May, EMTs were called to a hotel room where the child had overdosed and found the girl and Olson with narcotics present.
Olson was arrested but released after posting a $1million bond, while the girl was taken to hospital where she recovered from the overdose.
But once free, police say he continued to target young girls on social media.
In a statement to DailyMail.com, a spokesman for Dwight Mortgage Trust – the firm where he worked – previously confirmed he’d been fired.
‘We became aware of the serious criminal allegations against one of our employees, Michael Olson, and immediately after learning about these allegations, he was terminated.
‘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 Olson will continue, says Manhattan DA Alvin Bragg, whose office is asking any other victims to come forward.