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  • S.E.C. Sues Sean Morton, 'America's Prophet,' for Fraud

    03/05/2010 6:41:25 AM PST · by hennie pennie · 8 replies · 393+ views
    New York Times ^ | March 5, 2010 | Michael J. de la Merced
    He calls himself "America's Prophet," a psychic, trained by Nepalese monks in the art of time travel, who can foretell the future of the stock market. But to the authorities, Sean David Morton is simply a fraud - and a really, really bad psychic. In a case that seems ripped from the pages of the satirical newspaper The Onion, the Securities and Exchange Commission sued Mr. Morton for securities fraud on Thursday, claiming he swindled more than $6 million from investors by promising them "piles of money," along with spiritual happiness. "I have called ALL the highs and lows of...
  • S.E.C. Charges Psychic With Securities Fraud

    03/04/2010 2:55:02 PM PST · by BuckeyeTexan · 14 replies · 429+ views
    NYT ^ | 03/04/2010 | Michael J. de la Merced
    The Securities and Exchange Commission on Thursday sued a well-known fortune-teller who called himself “America’s Prophet,” charging him with securities fraud for swindling investors out of $6 million with the promise that he could accurately predict market moves. (Read the lawsuit after the jump.) Sean David Morton, 51, is accused of inducing more than 100 investors into pouring money into the Delphi Investment Group through his newsletter, Web site and guest spots on a nationally syndicated radio show. Among his pitches: “I have called ALL the highs and lows of the market giving EXACT DATES for rises and crashes over...