A Rindge man found guilty of defrauding investors out of $22.8 million has filed an appeal to reduce his jail sentence and restitution amount.
Aaron Olson, through his attorney Inga L. Parsons, has filed paperwork with the United States Court of Appeals for the First Circuit arguing that Olson’s 60-month jail sentence should be reduced to the 37 to 46 month range, and that restitution of $22,811,405.26 should be reduced by 24-percent to $17,336,668.
In the document, Parsons explains that restitution should be reduced to account for legitimate investment losses unrelated to Olson’s criminal conduct.
Parsons called the 60-month sentence “unreasonable” saying it should be reduced for a number of reasons, including the judge in the case upwardly departing from the lower range of the sentencing despite both parties in the case recommending a 46-month sentence.
Olson was sentenced in April to five years in federal prison, with an additional three years of supervised release and a $400 special assessment after pleading guilty to four counts of tax fraud after attempting to evade or defeat taxes owed for the years 2007-2010.
Olson’s plea deal also stipulated that he pay restitution, which was later determined to total $22,811,405.26 to 81 investors.
Olson is currently serving out his prison sentence at FMC Devens Correctional Institute in Devens, Massachusetts.