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SEC charges "America's Prophet"
03-05-2010, 10:10 AM
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#1
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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SEC charges "America's Prophet"
 Quote:
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.
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SEC accuses America's Prophet of investor fraud | Reuters
It is rumored Morton told the SEC "I knew this would happen." 
__________________
Numbers is hard
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03-05-2010, 03:48 PM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Feb 2008
Location: East Nowhere, 43N Latitude, NY
Posts: 9,037
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So what makes this guy different from so many other feather merchants?
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03-05-2010, 04:03 PM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jun 2002
Location: Texas: No Country for Old Men
Posts: 50,021
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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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Numbers is hard
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03-05-2010, 11:16 PM
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#4
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Moderator Emeritus
Join Date: Dec 2002
Location: Oahu
Posts: 26,860
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Quote:
Originally Posted by REWahoo
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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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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03-06-2010, 07:23 PM
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#6
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Give me a museum and I'll fill it. (Picasso)
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Join Date: Dec 2004
Location: the City of Subdued Excitement
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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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