Have you tried installing the all ghosts mod? I think it has some patches in it if not its still a good mod but I would suggest installing a patch. Do you have the US version of ghostmaster? the bonus scenario is only meant for UK people and has a difficult time working on copies of ghostmaster from other regions
Running as an admin and compatibility mode is only possible with the allghosts version and didn't work. By the way the game always crashes at a different ghost.It sometimes stops at a starter ghost but last time it stopped at a ghost from the blair wisp project.