April 17, 2026 NEW YORK, NY They say the devil works in mysterious ways, but in the case of the Swedish Church of New York, he apparently worked in the accounting department.
For nearly a decade, Olof Olsson wasn't just a face in the pews; he was a pillar of the community. As a board member, financial advisor, and resident of the Midtown house of worship, Olsson held the keys to the kingdom—specifically, the kingdom’s bank accounts. But according to a 24-count indictment unsealed by the New York Attorney General’s Office, Olsson’s "amen" was allegedly followed by an "I’ll take that."
A Six-Year Spree of Scriptural Proportions
From 2018 through 2025, while most congregants were focused on the mission of the Swedish Seamen’s Church, Olsson was allegedly orchestrating a masterclass in deception. Prosecutors claim the 45-year-old Manhattanite funneled a staggering $3.8 million out of church coffers and into accounts under his personal control.
His methods weren't just greedy; they were calculated. As a licensed securities broker, Olsson allegedly utilized his professional expertise to:
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Forge Financial Statements: Creating sophisticated fakes from major financial institutions to hoodwink the board.
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Misdirect Donations: Funneling bequests and generous gifts meant for the church into his own pockets.
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Cover His Tracks: Manipulating business records for over six years to keep the pews peaceful while he drained the accounts.
Luxury, Risk, and the Ultimate Betrayal
Where does nearly $4 million go? According to Attorney General Letitia James, it wasn't spent on charitable works. The investigation revealed that Olsson allegedly burned through the stolen funds on personal expenses and a "risky and failed" business venture.
"When churchgoers donate money, they expect their generous contributions will be used to support their church and its mission," said AG Letitia James. "Olof Olsson took advantage of his role... to steal millions of dollars from his fellow churchgoers."
