Click pic for “America’s Prophet’s” website
Who could possibly guess that a psychic would be a fraud? Especially when he’s investing your life savings!
-The U.S. Securities and Exchange Commission has filed a civil suit against “America’s Prophet” Sean David Morton, alleging he lied about using his psychic expertise in investing more than $6 million from investors.
Morton, of Hermosa Beach Calif., solicited individuals over nationally syndicated radio broadcasts, public appearances and newsletters to put money into Delphi Associates Investment Group. He claimed his psychic ability would be used to invest in foreign currencies, the SEC said in a suit filed in the U.S. District Court for the Southern District of New York.
In one newsletter, the SEC quoted Morton as writing “I called ALL the highs and lows of the market, giving EXACT DATES for rises and crashes over the last 14 years.”
[...]
The SEC charges Sean David Morton invested “only about half of the funds” with the foreign-currency trades he had promised the money would be put into. Further, the SEC said, the Mortons used at least $240,000 of the funds for their own nonprofit religious organization, PRI.
Morton, 51 years old and known as “America’s Prophet,” appears on a nationally syndicated radio show, “Coast to Coast AM,” with an audience of nearly 3 million listeners, the SEC said. He also publishes the monthly newsletter The Delphi Associates Newsletter, a paid, subscription-only newsletter that the SEC said has about 20,000 subscribers.
Hey, I know this guy! He is the new Social Security Czar, right?
I suppose if I said “All psychics are frauds and such activities should be illegal–ie NOT “exclusively for entertainment purposes” the psychic crowd would call me out for:
1. “Hating” psychics
2. Not having any morals
3. Trying to force my anti-psychic position on the rest of society
4. Trying to eliminate psychics
5. Denying this country was built by psychics
and so forth.
Heh, heh.
Stoopid Psychics.
Thank you for paying your stupidity tax … now, please move along.
actually, one morning i saw this guy on an old episode of ‘card sharks’ on game show network. he wasnt really psychic on that show either. i heard him on the radio show coast to coast am one night and thought id call in and ask him about it. when i got through to the screener, i was politely turned away… he talks a good game, and sometimes in life, thats really all you need….
Glad the SEC spent so much time and effort to pop this latter day Miss Cleo instead of stopping Bernie Madoff after Markopolis TWICE tried to get them to take action on ol Bernie.
And don’t know about you guys, but I feel soooo much safer. Just cut all funding to the SEC and send everyone there home. It’s not like they are doing anything but hassling spoon benders.
Bobbo made me think of this.
Teach the controversy! Psychics were placed on earth by supreme beings from another universe. No evolving took place.
Psychic theory should get equal time in the science class.
The fouth line on his banner is not shown. It should read, “Bullshit is King”.
Has Morton checked for Madoff’s hand up his arse? He should.
Hurray they got this little scumbag, now what about all those bankers investing in poisoned assets because they knew they were too big too fail.
Psychics, ya gotta love ‘em.
http://tinyurl.com/mgxkve
Just curious, how long was this guy doing this before the SEC noticed?
ever notice that psychics have a phone number to call them…
if they were really psychic they would be calling you, and you wouldnt have to give them your number ahead of time..
hahahaha, I had the EXACT same idea… if he were *that* all-seeing, wouldn’t he have seen the SEC coming from a mile away? Oh well, obviously the guy was a hack.
Still, the cat. Come on, you can’t make this stuff up.
In Bible times, a prophet who had only one prophecy fail was given the death sentence. It fascinates me that people still listen to a psychic who is only occasionally wrong.
I thought it would be interesting to get Sean’s side of the story, here is his statement:
http://coasttocoastam.com/article/sean-david-morton-statement
Sean David Morton Statement
March 04, 2010
We received the following statement from Sean David Morton:
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.
I am shaken to my core by all this. I have never stolen from anyone in my life, and I cannot even fathom how someone could risk incurring such karma for base, short term monetary gain. I am sure it happens every day, but I firmly believe as the Apostle Paul said, “What does it profit a man to gain the whole world and lose his own soul?”
Anyone who knows me and knows my body of work from listening to this show over the past 20 years knows that I am all about the truth and doing what is right, and that is what my wife and I have done ALL ALONG, and we will be fully vindicated from these baseless allegations.
Thank you all again for your love and support.
Blessings
Sean-David Morton