Kirk Crossen Investment Fraud case shows how a trusted adviser can betray our confidence. Investment fraud means someone tricks others out of their money with false promises.
In this case, Crossen faces four felony charges for taking $275,000 from a long-time friend. He promised to invest the funds safely but lost the first $25,000 in risky trades and then used another $250,000 on gambling, housing, dining, and golf between May and September 2024.
These events remind us why it is important to check if someone is qualified before trusting them with our savings. Neither Crossen nor his company registered as advisers at any state or national level.
The Indiana Secretary of State investigated him after discovering he lied about investment risks and his own credentials. He even admitted losing all the invested money through text messages.
Crossen’s past includes working 27 years for big firms like Morgan Stanley before he stopped registering with brokers in November 2023. Before this arrest warrant issued on November 21, 2025, FINRA suspended him for breaking rules about client loans and other issues totaling over $400,000.
Our story looks at what happened next and what these actions mean for investors like us. Let’s find out how one person’s choices affect everyone involved in investing today.
Charges Against Kirk Crossen
Table of Contents
Kirk Crossen faces serious allegations of investment fraud. He also stands charged with theft of property and fraudulent acts in the securities market.
Investment Fraud
We see that Crossen faces an investment fraud charge as one of four felonies. Authorities say he solicited $275,000 from a long-time friend using misrepresentation and false statements about his investment strategy.
He told the investor the plan was “conservative,” but police reports show that he used high-risk options trading instead.
The scheme led to an immediate loss of $25,000. Investigators say Crossen used much of the money for unauthorized purposes rather than investing it as promised. Officials believe this case is a clear example of fraudulent acts in securities and misrepresentation leading to financial loss.
He promoted his strategy as safe and conservative, but investigators found risky trades and unauthorized personal spending.
Theft of Property
After looking at the investment fraud charges, we also need to talk about the theft of property charge. Prosecutors claim Kirk Crossen stole property worth more than $50,000. According to the criminal investigation, he misappropriated a total of $275,000 in investor money for his own use.
In May, June, and September 2024, someone sent him three payments adding up to $250,000. Those funds vanished through improper investment activities and misuse for personal gain.
Investigators say Crossen used money that was meant for investments on things outside our agreements as investors. This falls under both financial crime and embezzlement; these legal charges focus on how he took assets that did not belong to him.
The pattern of alleged theft shows clear misconduct with severe losses tied directly to his role handling investments.
Fraudulent Acts in Securities
Crossenâs alleged theft of property ties directly to accusations of fraudulent acts in securities. We see claims that Crossen engaged in investment deception while offering, selling, or buying securities.
He promised the victim a conservative approach but hid crucial details about his unregistered adviser status.
The investigator found signs of financial misrepresentation and intent to deceive investors. Text messages from Crossen admitted he lost the entire investment amount. These misleading statements caused major financial loss for the investor and violated rules around compliance and transparency in securities transactions.
Unregistered Investment Adviser
Kirk Crossen faces charges for acting as an unregistered investment adviser. He failed to disclose this important fact to his victims. Crossen Capital Investments LLC is not registered with the SEC or the Indiana Securities Division.
His actions violate several securities regulations, raising serious concerns for investors.
Lack of registration credentials means he operated without proper oversight. This situation puts potential clients at risk. Such misrepresentation can lead to significant financial losses for investors who trust unregistered advisers with their money.
Investors deserve transparency and compliance from those managing their finances.
Misuse of Investment Funds
Kirk Crossen allegedly funneled investor money for personal expenses and gambling. These actions raise serious concerns about his integrity as an advisor. Stay tuned to learn more about the details of this case!
Allegations and Investigation
The Indiana Secretary of State Securities Division leads the investigation into Crossen’s actions. We see serious allegations against him, including misusing $275,000 from a Texas resident.
Testimonies show he solicited investments under false pretenses. Evidence reveals intent to commit fraud and theft. Misappropriation of funds raises concerns about his financial misconduct.
Our focus on regulatory inquiries shows mounting evidence against him. The investigation uncovers fraudulent acts in securities. Many investors are left questioning their decisions as they learn more about this scam.
Next, we will examine Crossenâs background and what led to these troubling claims.
Personal Expenses and Gambling
The investigation revealed Crossen’s misuse of investment funds. He used money meant for investments to pay for personal expenses. His spending included housing, dining out, and golfing.
We learned that he also spent significant amounts on gambling activities. None of this personal spending was disclosed to the victims. Such actions show a clear lack of accountability and transparency in managing investor funds.
The financial misconduct raises serious concerns about trust and due diligence in investment practices among investors like us.
Crossen’s Background
Kirk Crossen has a varied work history, but he faced issues that led to his unregistered status. He previously worked as an investment adviser, gaining experience in the field. Unfortunately, circumstances forced him out of that role.
The situation took a turn when he lost his registration and now stands accused of serious charges. This background paints a troubling picture for potential investors. We encourage you to read more about these developments and their implications.
Work History
Crossen worked as a financial advisor at Morgan Stanley and Raymond James & Associates. His career in the securities industry lasted 27 years. We recognize that Crossen established Crossen Capital Investments LLC during this time, adding to his experience in wealth management and capital management.
He managed portfolios, conducted market analysis, and provided financial planning services to various clients throughout his professional journey.
Discharge and Unregistered Status
We note that Crossen faced significant professional setbacks. In November 2023, Raymond James & Associates discharged him from his position. Since that discharge, he has not registered with any brokerage firm.
This means he cannot legally operate as an investment adviser or broker.
FINRA suspended his ability to act as a broker due to non-compliance with an arbitration award and settlement. Furthermore, Crossen Capital Investments LLC remains unregistered for securities trading.
Investors should be aware of these red flags when considering any future investments involving him or his business entities.
Allegations and Victim’s Loss
Victims allege they lost significant amounts due to Kirk Crossen’s actions. They claim he misused their investments for personal expenses and gambling. These claims paint a troubling picture of financial misconduct.
We must stay informed about this case and its implications for investors like us.
Initial Investment Loss
The victim faced an initial investment loss of $25,000. This loss stemmed from high-risk options trading that conflicted with the promised conservative approach. We know that this amount was never returned.
The setback not only impacted the victim’s finances but also set the groundwork for further investments. Despite assurances of a safe strategy, trading misconduct led to significant capital loss and heightened market volatility for the investor involved.
Additional Funds and Alleged Misuse
We saw evidence that Crossen misused $250,000 from the victim. This amount came in three separate transactions between May and September 2024. Each transaction represented a breach of trust.
These funds did not go into agreed-upon investments; instead, they went toward improper investments and personal expenses.
Victims faced cumulative losses due to this deception. All the additional money vanished completely without producing any legitimate returns or benefits. Such actions highlight serious allegations against Crossen as we move into his fraudulent acts and regulatory responses next.
Fraudulent Actions and Regulatory Actions
Kirk Crossen allegedly intended to commit fraud and theft, leading to serious regulatory actions. FINRA has now suspended his activities as an investment adviser. This situation highlights the importance of vigilance in our investments.
If you’re interested in learning more about this case, keep reading!
Intent to Commit Fraud and Theft
Crossen planned to use the victimâs money for personal gain. His misleading assurances about conservative investing served as a clear sign of his intent. High-risk trading defined his actions, and he misappropriated investor funds for personal expenses and gambling.
Concealing his unregistered status further demonstrated financial misconduct and deception.
These fraudulent acts highlight serious regulatory violations. Investors need to be aware of these risks in order to protect their interests moving forward. The next section will delve into Crossen’s misuse of investment funds and the allegations surrounding those actions.
Suspension and Regulatory Action by FINRA
FINRA suspended Crossen from acting as a broker. This suspension resulted from his failure to comply with an arbitration award or settlement agreement. We see that he faces another FINRA action due to allegedly borrowing $400,000 from a customer through three loans.
The trust involved had an 84-year-old beneficial owner who likely had diminished capacity at the time.
Loans became hidden when Crossen concealed them from his firm and gave false answers on compliance questionnaires. These actions reflect serious misconduct in our industry and highlight the need for strict compliance measures among investment advisers.
Next, we will explore the legal actions taken against him and details around his arrest warrant.
Legal Actions and Arrest Warrant
Authorities issued a warrant for Kirk Crossen’s arrest. He now faces serious legal actions related to his alleged fraud and theft. We eagerly await updates on the court proceedings, as this case unfolds further.
Stay informed by exploring more details about this situation.
Warrant Issued for Crossen’s Arrest
A warrant now exists for Kirk Crossen’s arrest. It was officially issued on November 21, 2025. This warrant stems from four felony charges against him. These charges include investment fraud, theft of property, fraudulent acts in securities, and acting as an unregistered adviser.
The Indiana Secretary of State Securities Division has led the documentation of these serious allegations. We understand that this situation raises concerns among investors. Staying informed about such developments is important for our financial safety and decision-making strategies moving forward.
Court Date and Updates
No court date is set for Crossenâs case. As of December 3, 2025, the situation remains in the legal system with ongoing investigation. We anticipate further updates as the case develops.
Legal actions continue to unfold, and we will monitor the status closely. The arrest warrant stands active while we await more information from authorities regarding this matter.
Conclusion
Kirk Crossen’s case highlights serious issues in the investment world. We see how he misused $275,000 meant for investment. Instead of growing that money, he used it for personal expenses and gambling.
This situation serves as a warning to all investors about trusting unregistered advisors. Understanding these risks is crucial when making financial decisions. Letâs stay informed and cautious to protect our investments; after all, knowledge is power in finance!
References
- https://www.publicnow.com/view/6B476762AF84F2A6216FA30425667A7FAAE2A426 (2025-11-12)
- https://www.israelsneuman.com/blog/page/22/
- https://www.wrtv.com/news/wrtv-investigates/i-lost-everything-zionsville-man-charged-with-investment-fraud-and-theft
- https://web.mit.edu/~ecprice/Public/wordlist.ranked
- https://downey-n1.cs.northwestern.edu/downloads/OTyper_data_aaai18/FIGER_data/all_entity_str.txt
