SEC Charges 'America's Prophet' With Fraud; Investors Sent $6 Million To Psychic

[KittyWampus]

SEC Charges 'America's Prophet' With Fraud; Investors Sent $6 Million To Psychic
Justin Elliott | March 5, 2010, 4:11PM



The SEC has charged Sean David Morton, a self-described "natural psychic, trained Remote Viewer, intuitive consultant, investigative reporter, and accomplished award winning director, screenwriter and film and TV producer," with securities fraud. Morton, who is known as "America's Prophet" allegedly solicited investors through a newsletter in which he claimed, "I have called ALL the highs and lows of the market giving EXACT DATES for rises and crashes over the last 14 years." His company is called Delphi Associates. Over 100 people sent Morton $6 million since 2006 to invest in foreign currency trading, according to the SEC.

The SEC charges that Morton and his wife allegedly "diverted at least $240,000 of investor funds" to their Prophecy Research Institute. The SEC complaint charitably refers to that as a "religious organization." Morton also allegedly "falsely claimed that the profits in the accounts were audited and certified."

snip

As Morton tells it, his predictive powers are limitless:

He gave exacts dates, magnitudes and epicenters for the 1989 San Francisco earthquake, then went on to predict natural catastrophes such as the '92 Landers and '94 Northridge earthquakes, and also the '95 quake in Kobe, Japan, to name only a few.
...

His political and economic predictions shocked the nation. Years in advance, he foresaw Clinton's impeachment, the controversy over the 2000 vote and the election of George W. Bush. He also predicted exact dates for the post-90's decline of the DOW and NASDAQ, and has given the exact levels -- and timing-of their subsequent rise and fall.

Besides his investment activities, Morton offers a "teleseminar" that reveals "stunningly accurate predictions for the first quarter of 2010 and beyond."

And he and his wife run a "specialized cattery" called Sangha Norwegian Forest Cats.
snip

[hobbit709]

1. You dumb enough to give a psycho(ic) your money

You deserve to get took.

[mwb970]

2. Shawn Spencer is more "psychic" than this guy.

And much cooler.

[FreakinDJ]

3. Typical "Doom and Gloom" market forecaster

[SpiralHawk]

4. "I foresaw this scam." - Ronald Reagan's Dead Republicon Astrologer*

"Scams are kind of a republicon speciality, so naturally I was able to see this clown coming years ago. Smirk."

- Ronald Reagan's Dead Republicon Astrologer*



* Courageously channeled by the intrepid SH from the vast netherworld of republicon occultism

[peekaloo]

5. So he knew the SEC was onto him?

the cat seems dubious to his powers.

[Vinnie From Indy]

6. Which one in the photo is he?

It looks like the cat is "The Prophet" and the guy is simply his bodyguard saying "step back".

[KittyWampus]

9. I was hoping someone else would see that too!

:D

[dbt]

7. Real psychics never ask for money.

And, yes, there are real psychics.

[Vinnie From Indy]

8. I knew you were going to say that!

n/t

[Archae]

12. HAR!

:eyes:

[dysfunctional press]

13. a "real" psychic wouldn't have to ask for money...

they'd be rich from their stock market gains and powerball winnings.

but- it's a moot point, because there are no 'real' psychics.

[Lint Head]

10. People that believe unfounded myths will always be taken in by them and

hoodwinked by charlatans. A lot of people fear unfounded myths. Criminals will exploit those fears to make money because it always works. The problem comes when people in power are also dumb enough to to believe those myths. The myth can be something that has be around for ages or a newly created and promoted myth. Like WMD being in IRAQ. Like the war on Christmas. You could list hundreds.

[KittyWampus]

11. have to kick this for the cat.