An Edina financial adviser is facing charges of wire fraud for allegedly bilking clients out of a cool $1.6 million, says U.S. Attorney Andrew M. Luger. Kristi Margaret Berge, age 47, the brains behind Keep Safe Investments, LLC, otherwise known as "KSI Financial," has been accused of pulling the wool over the eyes of trusting investors, siphoning their hard-earned dough into bank accounts she controlled.
The charges suggest Berge was playing a shell game, convincing clients their cash was tucked away safe and sound in investment accounts, while in reality, she was allegedly funneling the funds to herself. From mid-2020 through February 2023, Berge has been accused of quickly shuffling hefty sums from client accounts, ranging from a few thousand up to $220,000, into her own pocket. She then reportedly plowed the illicit gains into a slew of Edina properties for her realty side hustle.
The deceit didn't stop at stealthy transfers; Berge's game allegedly included cooking up fake statements, dubiously marking her withdrawals as "management" or "administrative" fees. According to a statement from the Justice Department, these smoke and mirrors were part of a plot to make it seem like she had the green light from clients to tap into their investment funds.
Berge, who repped herself as a registered investment adviser with FINRA and licensed with the state of Minnesota, is now on the hook for one count of wire fraud. She's due to step into the courtroom for the first time on March 7, 2024, before Judge Eric C. Tostrud. While the charges paint a grim portrait of Berge, it's the job of the courts to ultimately decide whether to definitively slam the gavel on her alleged scheming.
This revelation of broken trust comes courtesy of the folks at the FBI, who pieced together the alleged fraud. Assistant U.S. Attorneys Matthew S. Ebert and Harry M. Jacobs are the ones tasked with bringing Berge's case to court. But as with all accused, Berge remains innocent until proven otherwise beyond a reasonable doubt in the eyes of the law.
