New York Attorney General Letitia James announced on Apr. 16 the indictment of Olof Olsson, a former board member and financial advisor at the Swedish Church of New York, for allegedly stealing more than $3.8 million from the church over six years.
The case highlights concerns about financial oversight and trust within charitable organizations. The New York Attorney General promotes social justice and community well-being through civil rights enforcement and consumer advocacy, according to the official website.
Olsson, who served on the church’s board from 2016 to 2023 while also working as a licensed securities broker at a financial institution holding the church’s assets, is accused of abusing his position by transferring funds into accounts he controlled and using them for personal expenses and risky investments. “When churchgoers donate money, they expect their generous contributions will be used to support their church and its mission,” said Attorney General James. “Olof Olsson took advantage of his role as a trusted member of the Swedish Church of New York to steal millions of dollars from his fellow churchgoers. My office will always seek to hold those accountable who take advantage of hard-working, charitable New Yorkers.” The indictment was unsealed in New York County Supreme Court before Judge Althea Drysdale.
According to investigators with the Office of the Attorney General’s Public Integrity Bureau (PIB), Olsson created forged financial statements that concealed unauthorized withdrawals between July 2018 and December 2025, leading other board members to believe that investments remained secure. He is charged with multiple felonies including grand larceny, criminal possession of a forged instrument, and falsifying business records; if convicted on all counts he could face up to eight-and-one-third to twenty-five years in jail.
The charges are currently allegations; Olsson is presumed innocent unless proven guilty in court. The investigation involved legal analysts Meredith Youngblood and Alexandra Crespo as well as forensic accounting supervised by Chief Auditor Kristen Fabbri.
Letitia James heads the New York Attorney General’s office which protects residents’ rights, ensures public safety, upholds consumer protections, preserves the environment according to its official website. The agency operates regional offices across New York State addressing local legal issues such as consumer fraud investigations and charities oversight according to information provided by its official site.
