Scranton Man Indicted On Fraud Charges

U.S. Attorney’s Office
Middle District of Pennsylvania
10 August 2017

FOR IMMEDIATE RELEASE

SCRANTON- The United States Attorney’s Office for the Middle District of Pennsylvania announced today that Jeffrey John Olson, age 56, of Scranton, Pennsylvania, was indicted on August 8, 2017, by a federal grand jury for wire fraud and bank fraud.

According to United States Attorney Bruce D. Brandler, the indictment alleges that between August 2016 and April 2017, Olson devised a fraudulent scheme to obtain money from an individual who believed he was investing in an auto parts business. The money provided to Olson, however, was used for Olson’ personal expenses. The indictment further alleges that Olson provided the victim with a fraudulent cashier’s check drawn on JP Morgan Chase Bank, resulting in a risk of loss to the financial institution of $200,000.

The case was investigated by the U.S. Federal Bureau of Investigation (FBI) and is being prosecuted by Assistant U.S. Attorney Jenny P. Roberts.

Indictments are only allegations. All persons charged are presumed to be innocent unless and until found guilty in court.

A sentence following a finding of guilt is imposed by the Judge after consideration of the applicable federal sentencing statutes and the Federal Sentencing Guidelines.

The total maximum penalty under federal law for these offenses is 50 years of imprisonment, a term of supervised release following imprisonment, and a fine. Under the Federal Sentencing Guidelines, the Judge is also required to consider and weigh a number of factors, including the nature, circumstances and seriousness of the offense; the history and characteristics of the defendant; and the need to punish the defendant, protect the public and provide for the defendant's educational, vocational and medical needs. For these reasons, the statutory maximum penalty for the offense is not an accurate indicator of the potential sentence for a specific defendant.