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SEC charges "America's Prophet"
Old 03-05-2010, 11:10 AM   #1
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SEC charges "America's Prophet"

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The U.S. Securities and Exchange Commission sued [Sean David] Morton, 51, on Thursday on civil fraud charges, accusing him of fraudulently raising more than $6 million from more than 100 investors for Delphi Investment Group in 2006 and 2007.

"In soliciting these individuals, Morton claimed that he would use his psychic expertise to provide investment guidance to his investment team, and falsely touted his historical success in psychically predicting the various rises and falls of the market," the complaint filed in Manhattan federal court said.
SEC accuses America's Prophet of investor fraud | Reuters

It is rumored Morton told the SEC "I knew this would happen."
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Old 03-05-2010, 04:48 PM   #2
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So what makes this guy different from so many other feather merchants?
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Old 03-05-2010, 05:03 PM   #3
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Originally Posted by freebird5825 View Post
So what makes this guy different from so many other feather merchants?
His transparency and chutzpa maybe?

You have to admire a financial guru who put his investor's money in a couple of shell companies named "27 Investments" and "Magic Eight Ball". Plus, he stated in one of his 2006 newsletters "I have called ALL the highs and lows of the market, giving EXACT DATES for rises and crashes over the last 14 years."
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Old 03-06-2010, 12:16 AM   #4
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Originally Posted by REWahoo View Post
Plus, he stated in one of his 2006 newsletters "I have called ALL the highs and lows of the market, giving EXACT DATES for rises and crashes over the last 14 years."
Judging from the kind of investors he wanted attracted, I suspect that if he didn't tell them then they wouldn't have been able to figure it out.

Anyone with a Hulbert subscription want to look up this guy's record?
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Old 03-06-2010, 02:10 AM   #5
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It's the cat. That's the difference.
Self-Proclaimed 'Psychic' Charged with Investor Fraud - The World Newser

Scroll down to see the psychic.
I love this picture. I'm pretty sure the cat tells him the future

Steve
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Old 03-06-2010, 08:23 PM   #6
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Well, he DOES call his investment company, Delphi. Maybe he sits over the fumarole and inhales the fumes?
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