Financial advisor and baker allegedly swiped millions from NYC church to pay for his own groceries

A financial advisor and baker allegedly ran an elaborate scam to steal more than $3.8 million in donations to the historic Swedish Church of New York — to pay for his own bills and groceries, and launch a failed business venture.Olof Olsson, 45, swiped millions in donations from parishioners over a six-year period while serving as a board member at the house of worship, according to Attorney General Letitia James.He allegedly funneled the cash into a secret bank account he opened in the church’s name that only he could access.Then, to keep the rest of the board in the dark, he cooked the books, creating fake ledgers from major financial institutions that made it look like the church’s investments were safe and sound, prosecutors charged.“When churchgoers donate money, they expect their generous contributions will be used to support their church and its mission,” the attorney general said.“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 church, also known as the Swedish Seamen’s Church, is housed in an iconic Gothic building in Midtown.The church did not immediately respond to a request for comment.Olsson, who worked as a licensed securities broker at the financial institution that held the church’s assets, allegedly used the stolen donations to pay for groceries and his own bills, as well as to fund an unspecified failed business venture.

The Swedish swindle finally unraveled in late 2025 when the Attorney General’s Public Integrity Bureau uncovered evidence of his alleged scam, which began in 2018.Olsson was hit with a 24-count indictment, including charges for first-degree grand larceny and 18 counts of possessing forged instruments. If convicted on the top counts, the disgraced advisor, who also worked as a baker at the chur...