Man accused of stealing $1.75 million from local church

Man accused of stealing $1.75 million from local church

By Katie Crowther. CREATED Sep 6, 2012

Las Vegas, NV (KTNV) -- The former treasurer and property chairman of a local church has been charged with fraud.

48-year-old Greg Olson has been indicted by a federal grand jury for wire fraud and filing false tax returns. The IRS believes Olson took out six mortgage loans in the name of the Calvary Lutheran Church, totaling $1.75 million.

Investigators say Olson had the money wired to the bank account of his own personal company.

The indictment claims that Olson did not disclose to church officials that he owned the company or that he ended up paying himself nearly $450,000 from the loan proceeds.

The IRS believes Olson carried out the scheme between 2006 and 2008 after persuading the church that it needed money for remodeling.

The church defaulted on its property because of the alleged fraud scheme and has since moved into a temporary building. It's now called Spirit of the Desert Lutheran Church.

"We didn't have a clue he was doing this," Pastor Randy Foos with the church said. "We were all blindsided because we trusted him. We knew who he was. I knew him as a kid and we were just really surprised."

Olson was indicted today in North Dakota, where he has property. He also reportedly has three homes in Las Vegas.

Olson is set to appear before a judge on October 5.