Edina Financial Advisor Stole $1.6M From Clients: FBI

MINNEAPOLIS — An Edina financial adviser is accused of misappropriating $1.6 million in client investment funds, announced U.S. Attorney Andrew M. Luger.

Kristi Margaret Berge, 47, is charged with one count of wire fraud. She is scheduled to make her initial appearance in federal court on March 7.

Prosecutors identified Berge as the founder and CEO of Edina-based Keep Safe Investments, a financial planning and investment services firm. She also co-owned Edina-based J&K Connect LLC, a company that invested in real estate through buying, renovating, and re-selling properties, according to the FBI.

Between June 2020 and February 2023, Berge repeatedly withdrew client funds in varying amounts between $5,000 and $220,000, and deposited the funds into bank accounts she controlled, authorities said.

In total, Berge withdrew $1.6 million in this manner and — instead of putting it in retirement savings plans and other secure investment accounts — used it to buy properties in Edina for her real estate business, according to the FBI.

Berge concealed her fraud by falsely labeling her illicit withdrawals as "management" or "administrative," authorities said.