Merged Sean David Morton -- "America's Prophet" -- arrested

Questioninggeller

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Self-proclaimed "prophet" arrested for fraud:

SEC says 'psychic' scammed investors
By BRUCE GOLDING
New York Post
Last Updated: 1:31 PM, March 4, 2010


Too bad he couldn't foresee getting caught.

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.
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In reality, the SEC says "he invested only about half of the funds with foreign currency trading firms" and diverted the rest, including $240,000 that went to a non-profit religious organization called the Prophecy Research Institute that he runs with his wife, Melissa, who's also named in the suit.
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Full: New York Post
 
Psychic charged with securities fraud.

http://blogs.abcnews.com/theworldne...imed-psychic-charged-with-investor-fraud.html

"I have called all the highs and lows of the market, giving exact dates for rises and crashes over the last 14 years," Morton said in a newsletter to potential investors. Along with his newsletter, Morton also used his website, public speaking engagements, and appearances on a nationally syndicated radio show to promote his Delphi Investment Group. According to George Canellos, director of the SEC's New York Regional Office, "Morton's self-proclaimed psychic powers were nothing more than a scam to attract investors and steal their money."
 
They should also arrest and commit - for their own protection - all the people who invested money with him because they are obviously too stupid to live without harming themselves or others.
 
rockinkt said:
They should also arrest and commit - for their own protection - all the people who invested money with him because they are obviously too stupid to live without harming themselves or others.
Click to expand...

Anyone who knowingly gave the guy money because he was "psychic" was basically trying to profit from an illegal activity. Half if not all of the recovered money should be given to charity. The only reason they shouldn't be put in jail is that it costs the tax payer.
 
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