A disgraced Manhattan financier who preyed on teenage girls on social media — including a 14-year-old he raped and fed drugs to until she overdosed — took a plea deal Tuesday that will keep him locked up for 16 years, prosecutors said.
Michael Olson, 56, sporting a white beard and tan prison-issued sweater, copped to a handful of charges from the shocking 75-count indictment unveiled against him last year in Manhattan Supreme Court.
The sleezeball muttered a wimpy “Yes,” when Judge Ann Scherzer asked if he wanted to plead guilty to nine counts, including rape, criminal sale of a controlled substance to a child and aggravated patronizing a minor for prostitution.
Olson, who had been found unfit for trial in a ruling that was later reversed, at one point during the case penned a letter to his family where he detailed his plan to skirt prosecution by getting a reduced sentence at a treatment facility — where he said he had to be careful to not “behave too normally” or he’d be sent back to Rikers Island.
“The benefit, if the plan works, is that after six years the charges against me would be dismissed. So I would have no criminal record,” the sicko wrote, according to Manhattan Assistant District Attorney John Fuller, who had recommended a sentence of 25 years in prison.
Olson’s deviant plan was foiled when was found mentally sane after a new mental health evaluation was ordered by the judge in September.
Olson worked for Dwight Mortgage Trust, a real estate oriented investment firm, until he was accused last year of luring a 14-year-old girl on Instagram and drugging and raping her in hotel rooms in Queens and Manhattan on a weekly basis starting in December 2022.
The financial executive was caught on May 26, 2023 when the teen began overdosing in a Manhattan hotel room where EMS workers found numerous drugs including ketamine, cocaine and Xanax, prosecutors said.
Olson was released on a $1 million bond — and infamously hit with dozens of additional counts when he continued to reach out to underage girls online, according to prosecutors.
The deranged creep first targeted the 14-year-old when she posted on Instagram about how she couldn’t afford clothes.
Over the next few months, he admitted he raped her on several occasions, paying the young girl $700 a week in exchange for sex at hotels in the Big Apple, prosecutors have said.
The pervert also traveled with the child on trips to Las Vegas, Los Angeles and Miami — and pretended that she was his daughter by purchasing her boarding passes using her first name with his last name, according to the indictment.
“Michael Olson schemed to target, recruit, manipulate, and sexually assault young girls, and raped at least one child in Manhattan on a weekly basis,” Manhattan District Attorney Alvin Bragg said in a statement.
“His horrendous conduct was the very definition of predatory, and I thank my office’s Human Trafficking Unit for putting a stop to it.”
Olson will also have to serve a maximum of 15 years of supervision after he’s released from his 16-year prison term, Bragg’s office said.
His defense attorney, Jeffrey Lichtman, said Olson felt “miserable about what happened” and had wrecked his own life.
“He accepted the plea because he was guilty, like anyone else would,” Lichtman said outside the courtroom.
Olson will be sentenced on February 4, 2025.
