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Financier accused of luring & raping girl found on Instagram

A 54-year-old businessman is charged with drugging and raping a 14-year-old Asian girl for months who he found on Instagram.

AM New York reports Michael Olson is charged with taking the girl to hotel rooms in Manhattan and Queens and paying her $700 a week to have sex with him.

Prosecutors say his plot unraveled when the girl overdosed on drugs in a hotel room in Manhattan. Police found cocaine, ketamine, and Xanax in the room. Emergency workers took the girl to the hospital where she recovered.

Police arrested Olson and held him on $1 million bond.

The New York Post reports that prosecutors say Olson continued to try to contact underaged girls even while out on bail.

They go on to say Olson specifically preyed on teenage Asian girls. He allegedly looked for girls on Instagram who displayed photos of self-harm or complained of money problems. Investigators found numerous nude photos of underage girls on his iPad.

Authorities say he flew the 14-year-old girl he is charged with raping to such places as Las Vegas, Los Angeles and Miami. He met her when she complained on social media that she did not have enough money for clothes, reports the Daily Mail. Authorities say he sent the girl a gift card.

“Over the next six months, Olson repeatedly raped the child, paying her approximately $700 a week to engage in sexual conduct in hotel rooms in Queens and Manhattan,” said Manhattan District Attorney Alvin Bragg.

Olson has since been fired from his job at Dwight Mortgage Trust.

“Yesterday we became aware of the serious criminal allegations against one of our employees, Michael Olson, and immediately after learning about these allegations, he was terminated. The allegations are horrific and our hearts go out to the victims and their families,” the company said in a statement.

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