Tags: US | SEC | Psychic | Charged

SEC Charges Market Psychic Alleging $6M Scam

Thursday, 04 Mar 2010 06:41 PM

Federal regulators are accusing a man of bilking $6 million from more than 100 investors while calling himself "America's Prophet" and claiming to possess psychic powers to predict the stock market's highs and lows.

The Securities and Exchange Commission filed a lawsuit Thursday against Sean David Morton and three companies he is said to own under the name Delphi Associates Investment Group. The SEC says Morton lied to investors about his financial successes and the use of the investors' money.

The SEC is seeking an injunction against Morton, and unspecified fines and restitution. Morton couldn't be located Thursday for comment.

© Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

1Like our page
2Share
US
Federal regulators are accusing a man of bilking $6 million from more than 100 investors while calling himself "America's Prophet" and claiming to possess psychic powers to predict the stock market's highs and lows.The Securities and Exchange Commission filed a lawsuit...
US,SEC,Psychic,Charged
100
2010-41-04
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved