SEC says 'psychic' scammed investors

SEC says 'psychic' scammed investors

www.nypost.com

Federal regulators filed suit today against a self-proclaimed psychic who allegedly scammed $6 million by conning suckers into believing that his extrasensory abilities would make them "piles of money" by trading foreign currencies.

Sean David Morton -- who bills himself as "America's Prophet" -- "falsely touted his historical success in psychically predicting the various rises and falls of the market," according to the Securities and Exchange Commission

(visit the link for the full news article)

Gosh - I didn't see THIS coming.

Morton is about as psychic as my rabbit. In fact, I think I'm going to start finding investors who will let me put their money in rabbit droppings - which would be a far better investment than anything this scam artist ever came up with.

I've been keeping track of predictions made on Coast to Coast AM by Morton and other fakes, including the "remote viewers." They are never right except on vague prophecies such as, "The financial sector will have problems" or "We're going to have lots of earthquakes."

These people are all false prophets who make predictions based on the assumption that no one will actually go back and find out if they were accurate.

www.nypost.com
(visit the link for the full news article)

Maybe he'll finally get what he deserves, a cold, dank, cell.

Using my own highly tuned psychic abilities, I'm peering into the near future and seeing herds of gullible people flocking to his defence and to the defence of psychics in general.

punishing the psychic seems redundant.

Obviously there is a bigger problem if individuals within society would lack the common sense to see through such an obvious scam.

reply to post by allgoodnamesaretaken


I did S&F this even though I completely disagree with what you said on about psychics. Not all are fakes, but this seems to be a case where it should be obvious.

Right now I myself keep polluting my own results.

And the one I want to work I seem to be batting absolutely zero.

I have the genuine to be rarer then sold though. Much rarer.

@zombieoctopus




I will say it is criminal what they do in more ways then one. It causes a lot of damage for those looking to make it work and find out ways to improve the human condition.

Good find..

I just heard this on C2C. I was hoping someone would make a thread. I am not surprised that Sean David Morton and his investors lost all their money in the foreign exchange markes. Asfar as I'm concerned the whole market is rigged and the brokers work against you. I always liked hearing his stock picks tho, they seemed like good ones at the time, although I'm not sure what his hit rate was.

I'm alittle skeptical about what is going on here because as Sean David Morton says in this letter to C2C, the foreign exchange markets are unregulated or supposed to be. Well they shouldnt be but they pretty much are... If the government is going after someone it just makes me think twice about whether or not the person is really guilty or not. Just like they suppress great medical discoveries, you bring something good out they are going to come after you.
Letter to C2C AM:

www.coasttocoastam.com...

Who knows he could be guilty. But if you are investing in the foreign exchange you should know that you may very well lose you money.

edit: spelling


[edit on 5-3-2010 by (C2C)]

Psychics are nothing but criminals and should be treated as such, we really should have laws in place that deal with people who con folks in this case regarding the stock market or your average i talk to dead people(which are worse imo) They are scum that can cause society many problems yet we let them off lightly for the most part. I have never heard this man on C2C as i stopped listening to C2C a long long time ago.

reply to post by Solomons


Criminal

en.wikipedia.org...

Crime is the breach of rules or laws for which some governing authority (via mechanisms such as legal systems) can ultimately prescribe a conviction. Individual human societies may each define crime and crimes differently. While every crime violates the law, not every violation of the law counts as a crime; for example: breaches of contract and of other civil law may rank as "offences" or as "infractions".

What law would you use to round up those Psychic's. Are we all going to camps?

I call....

put up or shut up

Headline I'd like to see:


PSYCHIC WINS POWERBALL LOTTERY!


lol:

Originally posted by (C2C)
I'm alittle skeptical about what is going on here because as Sean David Morton says in this letter to C2C, the foreign exchange markets are unregulated or supposed to be.

Don't know if this is the case , but , if he was trading FX futures on the Chicago Mercantile Exchange , or currency options on the Philadelphia Stock Exchange...both are CFTC/SEC regulated exchanges...respectively.

SEC Litigation Release


Additional litigation found on page 4 of the SEC legal filing.

2 cases pending.
1 final.

Morton is a co-owner and officer ofVajra, 27 Investments, and Magic Eight Ball. Morton is also a co-owner and managing trustee ofPRl. Morton is currently a defendant in two pending private civil actions: Dunn v. Morton, etal., No. 021136/07 (NY. Civ. Ct. 2007), and Saunders v. Morton, et aI., No. 2:09-cv-00125 (D. Ct. Vt. 2009). Morton was also a defendant in Bassv. Morton, et aI., No. CV-08-253-EFS (B.D. Wa.) in which the court entered final judgment against all defendants, including Morton, and held Morton jointly and severally liable for more than $217,000 plus prejudgment interest, attorneys fees and other costs. In all three of these cases, an investor in the Delphi fuvestment Group has alleged that Morton, Vajra, 27 Investments, Magic Eight Ball, and other individuals conducted a fraudulent investment scheme.

PDF

Sounds like a mess.

reply to post by allgoodnamesaretaken


G'day allgoodnamesaretaken

Ah yes.......

Sean David Morton.....scam artist & all round nasty peice of work.....

He just got pudgier & pudgier with his snout in the UFO & paranormal gravy train, ripping off vulnerable people for all that time.

[atsimg]http://files.abovetopsecret.com/images/member/da783eac4d05.jpg[/atsimg]

www.ufowatchdog.com...

Kind regards
Maybe...maybe not