Olson case delayed, again

  • Aaron Olson

Monadnock Ledger-Transcript
Monday, October 03, 2016 9:11PM

The restitution hearing for a Rindge man at the center of a $27.8 million Ponzi scheme has been continued once more, as both attorneys in the case are still working to settle the restitution schedule. 

The day before Thursday’s scheduled restitution hearing, Aaron E. Olson’s attorney, Inga L. Parsons, filed a motion to continue the restitution hearing to Oct. 31. Judge Landya B. McCafferty approved the motion in part, saying that the evidentiary hearing on restitution could be rescheduled, but the parties would still meet on Sept. 29. 

“It appears that we have identified the points of issue,” said defense attorney Mark Zuckerman, in an interview on Friday. Zuckerman said Oct. 31 should be the final hearing date. 

According to Parson’s motion, the the two parties have engaged in “serious settlement negotiations,” but the parties have been unable to settle the restitution issue at this time. 

“As a result of those discussions the parties have narrowed the issues for the restitution hearing but believe it would benefit the court to have a briefing on some of those issues,” read Parson’s motion. 

Olson, who had offices in Jaffrey and Rindge, was mixing his investors’ money with his own accounts, spending $2.6 million for his own use and defrauding investors out of $27.8 million, according to authorities.

Olson was sentenced in April to five years in federal prison, with an additional three years of supervised release after pleading guilty to four counts of tax fraud.

Olson was also ordered to pay a $400 special assessment.

Olson is currently serving out his prison sentence at FMC Devens Correctional Institute in Devens, Massachusetts.

Nicholas Handy can be reached at 924-7172 ext. 235 or nhandy@ledgertranscript.com. He is also on Twitter @nhandyMLT.