A restitution hearing scheduled for Ponzi scheme mastermind Aaron E. Olson has been rescheduled, after his attorney was granted permission to withdraw from the case.
Judge Landya B. McCafferty granted Michael J. Connolly’s motion after a hearing Thursday afternoon. During the hearing, Olson said via video conference that he had retained new counsel to represent himself at the restitution hearing, as well as on appeal, according to court documents.
McCafferty said she would allow for the restitution hearing to be continued from May 26, provided it falls no later than mid-to-end of June. No date has been scheduled.
The proposed restitution schedule has been completed and sent to Olson, prosecuting attorney Mark Zuckerman said Monday. Zuckerman would not delve into the details of potential restitution payments, but said it would be higher than $13 million.
“I think the judge is interested in getting this case resolved soon,” said Zuckerman. “Restitution is the last component of this case.”
Olson was sentenced on April 1 to five years in federal prison, with an additional three years of supervised release, after pleading guilty to four counts of tax fraud.
Olson was also ordered to pay a $400 special assessment.
As a part of his sentencing, Olson is due to pay restitution to those he defrauded, which is expected to be more than $13 million.
Connolly is the third attorney who has withdrawn from Olson’s case.
Kevin E. Sharkey withdrew on Feb. 11, 2016, and Robert S. Carey withdrew on Oct. 27, 2014.
Nicholas Handy can be reached at 924-7172 ext. 235 or nhandy@ledgertranscript.com. He is also on Twitter @nhandyMLT.