EC Charges 'America's Prophet' With Fraud; Investors Sent $6

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EC Charges 'America's Prophet' With Fraud; Investors Sent $6

#1  Postby NineOneFour » Mar 06, 2010 4:08 pm

http://tpmmuckraker.talkingpointsmemo.c ... estors.php

No! You mean he wasn't phychic????? What are the odds?

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."

Delphi's Web site features amateur pictures of Morton with celebrities including Adam West, Sting, and Farah Fawcett.

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.

Perhaps the most extraordinary aspect of the story is that investors sent so much money to the man (pictured, above) at all.

(h/t Paul Kiel)

Late Update: Morton also wrote, directed, and played the role of priest in the 2004 horror flick Joe Killionaire, according to IMDB. Here's how Movie Tome describes the movie:

A group of the most beautiful and greedy women travel to Chateau De Morte, a castle in the South of France, with a chance to marry the Duke of Boofington, 14th Lord of Ticklebottom on the reality show WE KNOW WHAT YOU ARE, NOW HOW MUCH? But, the only way off this show... is to be killed off!




Classic.
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Re: EC Charges 'America's Prophet' With Fraud; Investors Sen

#2  Postby viralmeme » Mar 06, 2010 4:19 pm

NineOneFour wrote: .. No! You mean he wasn't phychic????? What are the odds?

investors invest in soothsayer
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Re: EC Charges 'America's Prophet' With Fraud; Investors Sen

#3  Postby NineOneFour » Mar 06, 2010 4:59 pm

FRAK!

Gallstones, can we get a merge over here, please? :)
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For help managing Post Traumatic Stress Disorder (PTSD), go here. I am able to manage it, and so can you.
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