James Anthony Kroger, a former professor at Gustavus Adolphus College and licensed attorney, pleaded guilty to one count of wire fraud in U.S. District Court before Judge Donovan W. Frank. The announcement was made by Acting U.S. Attorney Joseph H. Thompson.
“This defendant was a professor and an attorney—someone entrusted to teach and uphold the law. Instead, Kroger betrayed that trust, embezzled more than $670,000, and blew it on a lifestyle of self-indulgence,” said Acting U.S. Attorney Joseph H. Thompson. “In Minnesota, titles and credentials won’t shield you from federal prosecution. If you choose greed over integrity, you will face justice.”
According to court documents, between 2019 and 2021, Kroger embezzled more than $670,000 from Lone Star Municipal Finance Company, LLC—a real estate joint venture where he was a partner responsible for daily operations. He persuaded his partner to invest about $840,000 into the company for purchasing distressed properties in Texas but diverted most of those funds into his personal account by presenting them as company “loans.” Kroger then used the money for various personal expenses such as cash withdrawals, buying gold and silver bullion, making payments to family members, paying off insurance policy loans, and shopping with major retailers including Amazon and Apple.
The sentencing hearing is scheduled for December 1, 2025.
The FBI led the investigation into this case. Prosecution is being handled by Assistant U.S. Attorneys Harry M. Jacobs and Rebecca E. Kline.
