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  • S.E.C. Charges Psychic With Securities Fraud

    03/04/2010 2:55:02 PM PST · by BuckeyeTexan · 14 replies · 429+ views
    NYT ^ | 03/04/2010 | Michael J. de la Merced
    The Securities and Exchange Commission on Thursday sued a well-known fortune-teller who called himself “America’s Prophet,” charging him with securities fraud for swindling investors out of $6 million with the promise that he could accurately predict market moves. (Read the lawsuit after the jump.) Sean David Morton, 51, is accused of inducing more than 100 investors into pouring money into the Delphi Investment Group through his newsletter, Web site and guest spots on a nationally syndicated radio show. Among his pitches: “I have called ALL the highs and lows of the market giving EXACT DATES for rises and crashes over...