LINCOLN — Jack Olson, a longtime fundraiser for police organizations, pleaded guilty to conspiracy to commit wire fraud and one count of tax evasion in federal court in Lincoln on Thursday. Sentencing will be Nov. 5.
The 67-year-old from Council Bluffs was indicted in April 2023 alongside former Omaha Police Department Officers Richard Gonzalez and Johnny Palermo in relation to fraudulent fundraising activities for the Latino Peace Officers Association (LPOA).
Olson initially faced eight felony charges: Wire fraud conspiracy, three counts of wire fraud and four counts of tax evasion. He will be sentenced to no more than 42 months in prison as part of the plea agreement.
Under the plea agreement, Olson will also pay restitution of $27,111.25 to the LPOA and up to $30,883.33 to individual donors. The restitution amounts will be decided at sentencing. Olson would also pay $95,475 to the U.S. Department of Treasury.
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While both the state and Olson have agreed to the plea agreement, it will have to be approved by Olson’s sentencing judge. Olson can back out of his guilty plea if the judge does not agree to sentence him to no more than 42 months in prison.
Under the plea agreement, Olson admitted he conspired with Gonzalez and Palermo between 2017 and April 2023 to defraud LPOA of money.
Olson would solicit donations on behalf of LPOA and would keep approximately 65%-80% of the money, according to the plea agreement.
The organization’s website stated that 100% of donations went to athletic programs for children, but the LPOA was not organizing and administering any athletic programs for children in Omaha at the time, according to the agreement.
Olson spent a significant amount of the funds on personal expenses, the agreement said, and he was primarily paid via cash withdrawal from LPOA’s bank account or via cashier’s check. He deposited checks at the police credit union and received a percentage based on his contract with LPOA, according to the plea agreement.
Olson did not file income tax returns from 2018 through 2021, resulting in an estimated tax loss of $95,705.
Gonzalez and Palermo both pled guilty to wire fraud conspiracy in connection with the scheme and were sentenced to prison. Gonzalez was sentenced to and Palermo .
Olson’s case is adjacent, though not directly related, to the prosecution of former Omaha City Councilman Vinny Palermo. were handed down on the same day in April — one naming Gonzalez, Johnny Palermo and Olson; the other naming Gonzalez, Johnny Palermo and Vinny Palermo. Vinny Palermo and Johnny Palermo are not related.