Greed Bankrupted Church: Olson Gets 4 Years

LAS VEGAS, Nev. – A former church treasurer is trading pews for prison bars after receiving a four-year sentence Wednesday for a brazen scheme that drained nearly $1.5 million from the Calvary Lutheran Church, also known as Amazing Grace Lutheran Church of Las Vegas. Gregory J. Olson, 52, formerly of Las Vegas and now residing in Ryder, North Dakota, was also convicted of more than $500,000 in tax fraud. The sentence was handed down by United States District Judge Andrew Gordon.

Olson pleaded guilty on May 9, 2016, to one count of wire fraud and four counts of tax fraud – charges stemming from an indictment filed September 5, 2012. The details paint a picture of systematic theft stretching from 2006 to 2009. Instead of safeguarding the church’s finances, Olson treated it like a personal piggy bank.

“The defendant stole from the church and its members to satisfy his greed and he now faces a sentence of imprisonment for his calculated and callous actions,” stated U.S. Attorney Daniel G. Bogden. “This office, alongside the IRS, will aggressively pursue financial and tax fraud, holding accountable those who prey on trust and harm both victims and the U.S. Treasury.”

The scheme was multi-faceted and ruthless. Court documents reveal Olson siphoned funds through unauthorized cash and check withdrawals, fabricated expense reimbursements, illegally obtained mortgage loan proceeds, and even solicited loans from unsuspecting members of the congregation. The cumulative effect? Complete financial ruin for the church. The theft wasn’t just about money; it was about dismantling a community’s faith.

But Olson didn’t stop at stealing from the church. He also deliberately concealed the stolen funds on his 2006, 2007, 2008, and 2009 tax returns, evading $541,770 in taxes. Special Agent in Charge Tara Sullivan of the IRS Las Vegas Field Office put it bluntly: “To steal from a church which entrusted its finances to you is not only sad, it’s deplorable. IRS Criminal Investigation and the U.S. Attorney’s Office will continue to pursue those who cause financial harm through embezzlement and fraud.”

The case was a joint effort, investigated by the IRS-Criminal Investigation and prosecuted by Assistant U.S. Attorneys Gregg Damm and Dan Cowhig. Olson’s four-year sentence serves as a stark warning: betraying the trust of a community, especially one built on faith, carries a heavy price. The ruins of Amazing Grace Lutheran Church stand as a testament to his greed and a reminder of the devastating consequences of financial betrayal.