ADVERTISEMENT

ADVERTISEMENT

Insurance agents accused of taking $250,000 from clients

Forum News Service ST. CLOUD, Minn. -- Two licensed insurance agents from rural Paynesville have been charged with orchestrating an investment fraud scheme over the past seven years totaling $250,000. Michaela "Kim" Kruger, 57, is charged with fo...

Forum News Service

ST. CLOUD, Minn. - Two licensed insurance agents from rural Paynesville have been charged with orchestrating an investment fraud scheme over the past seven years totaling $250,000.

Michaela “Kim” Kruger, 57, is charged with four counts of theft by swindle and Richard A. Kruger, 57, is charged with four counts of aiding and abetting theft by swindle

The charges were filed in Stearns County after an investigation by the Minnesota Commerce Department’s Fraud Bureau, a news release from the Commerce Department said.

The Krugers are to make their first court appearance Oct. 5.

ADVERTISEMENT

According to the news release, the criminal complaint states that the Krugers, who operated the Kruger Insurance Agency in Paynesville, convinced insurance and tax clients to invest in a product purportedly tied to a “custodial account” administered by the Krugers but was instead used for personal expenses.

The Krugers are alleged to have stolen more than $250,000 from 2008 to 2014.

Because of the statute of limitations, the Krugers are charged with stealing more than $85,000, according to the news release.

Victims are asked to contact the Commerce Fraud Bureau at 651-539-1617 .

Related Topics: CRIME
What To Read Next