A one-time financial adviser based in Edina has faced significant legal consequences for her actions. Kristi Margaret Berge, the founder and CEO of Keep Safe Investments LLC (KSI Financial), was sentenced to 2½ years in prison after pleading guilty to wire fraud. The scheme ran from mid-2020 to early 2023, with the total stolen amount initially reported as $1.6 million but now topping $2.1 million.

After Prison: Supervised Release and Restitution

After completing her prison term, Berge will be on supervised release for two years. This is an important part of her sentence, ensuring that she continues to make efforts to make full restitution to her victims. The need for restitution is crucial as she has caused significant financial harm to those who trusted her.

Defense's Perspective

Defense attorney Bruce Rivers argued for his client to receive a term of six months' home confinement followed by three years' supervised release. He emphasized that Ms. Berge has shown an incredible amount of acceptance of responsibility and had no criminal history before this case. She never intended to hurt anyone; rather, her business took a turn, and she made some serious mistakes along the way. She has every intention to repay those who were harmed.

Prosecutors' View

Prosecutors, on the other hand, asked for Berge to receive a two-year prison term. They noted that she earned a degree from Columbia University and worked in London for the Morgan Stanley investment firm, indicating that she had the means and professional skills to live comfortably without resorting to crime. Her decision to commit fraud is puzzling and troubling, making her scheme all the more aggravating.During the scheme, Berge used the money stolen from clients to buy property in the city. This act not only shows her lack of ethical behavior but also the extent of the damage she caused. The victims trusted her with their hard-earned money, and she betrayed that trust.Berge's case serves as a reminder of the importance of ethical conduct in the financial industry. Even with a prestigious education and a successful career in a renowned firm, one can still make a grave mistake that leads to severe consequences. It is essential for financial advisers to uphold the highest standards of integrity and honesty to protect the interests of their clients.