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A self-proclaimed psychic who called himself "America's Prophet" and claimed the ability to predict stock market changes was charged today by the Securities & Exchange Commission with multi-million dollar securities fraud. Sean David Morton started to solicit investors in the summer of 2006 by promising to use his psychic abilities for investment guidance, the SEC alleged in the complaint.
The news today, that I had to hear in a phone call from a reporter, about the SEC filing a CIVIL action against my wife and I in a New York Federal court, has come as a total shock and a complete surprise. It also shows how brazen and desperate the SEC is, in putting out a PRESS RELEASE and announcing it to the global media, before we were even notified. They are going after PSYCHICS now who predict the markets?
The Civil Action demands as "Relief" that I not engage in Foreign Exchange trading again, which the SEC does not regulate, and that we "Disgorge any ill-gotten gains" of which there are none, as my wife and I are facing personal bankruptcy and incurred the single largest losses of any of the investors involved. We LOST our money right along with everyone else. The rest of the complaint is a litany of lies and baseless allegations. And again, massive losses in our ForEx trading a program were incurred when our FX trader REFUSED to take my advice and follow my guidelines.
We cooperated in every way we knew how with the SEC. However, the harassment from them got so bad that I was forced to file a Federal lawsuit to make them prove their jurisdiction and authority over something they clearly did NOT regulate. I see this action now by them as clear cut revenge for the actions I have taken against them and their continued abuse of jurisdiction and authority.