Sean David Morton who sees himself as America’s Prophet and psychic is, to the authorities, just a fraud and a bad psychic at that. According to Morton, he has the ability to foretell the stock market. But the police will not buy this.
Mr. Morton was sued by the Securities and Exchange Commission on Thursday for fraud. This was after Morton swindling more than $6 million from investors with the promise of “piles of money” and spiritual blessings.
“I have called ALL the highs and lows of the market giving EXACT DATES for rises and crashes over the last 14 years,” said Morton at one point.
Mr. Morton claims to be a modern day Nostradamus. His website, www.delphiassociates.org, explains that he was sent by Dalai Lama to a monastery in Nepal to learn Eastern spirituality and Western psychic techniques. According to him, these have gained him the ability to develop the “spiritual remote viewing” system.
Perhaps the huge amount that Morton had taken from his clients reached that high because of soliciting from investors through a newsletter that has about 20,000 subscribers, advertising from his own website, going through his Delphi Investment Group, and guesting on radio shows such as “Coast to Coast”.
The SEC stated that Morton said he would invest the money he took from investors on foreign currency traders who were supposed to act according to his own psychic revelations. Returns of as high as 117 percent over a period of five months were recorded. However, according to court filings, the only total of deposits made by Morton to trading accounts was $3.2 million.
“Morton’s self-proclaimed psychic powers were nothing more than a scam to attract investors and steal their money,” said the Director of the SEC in its New York Regional Office, George S. Canellos.
Source : http://www.nytimes.com/2010/03/05/business/05psychic.html?ref=psychicsandpsychicphenomena