(Dow Jones)--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."
"I lost more money in this so-called 'investment scheme' than anyone," said the so-called "natural psychic" who runs the Delphi Investment Group out of his California office.
"The trader I worked with did not take my advice, saying it would be fiscally irresponsible, but I was right."
In court papers filed Thursday in Manhattan Federal Court, regulators said Morton is an old-fashioned con man who "falsely touted his historical success in psychically predicting the various rises and falls of the market."
He threw some of his investors' money to ordinary foreign currency trading firms, the suit said.
He allegedly funneled the rest to his own efforts, including a nonprofit called the Prophecy Research Institute, run by his wife, who's also named in the lawsuit.
Above: Sean David Morton accompanied by his championship Norwegian Forest Cat, Lestat.
Mr. Morton’s reach was broad. He solicited investors through a newsletter with 20,000 subscribers, run through his Delphi Investment Group; his Web site; and his frequent appearances on radio shows like “Coast to Coast,” a late-night syndicated program focused on the paranormal. He and his wife, Melissa, created three unregistered vehicles for their investors. One was called Magic Eight Ball Distribution.
His predictions weren’t particularly accurate, either. On a Nov. 21, 2001, radio broadcast, Mr. Morton predicted that the Dow Jones industrial average would rise between April and June of 2002, cresting at “12,000 or so” by December of that year. According to the S.E.C., the index fell that year, ending at 8,341.
from Morton's website at http://www.delphiassociates.org/about.html
About Sean David Morton
Sean is a natural psychic, trained Remote Viewer, intuitive consultant, investigative reporter, and accomplished award winning director, screenwriter and film and TV producer.
He is also Managing Trustee of the Prophecy Research Institute, which since March 1993 has published the monthly Delphi Associates Newsletter, which now has nearly 20,000 subscribers worldwide.
Sean uses his talents and abilities to predict future occurrences and trends such as earth changes, political events and stock market fluctuations. He has an astounding “hit rate”, or percentage of successes. His extreme accuracy has led radio host Art Bell to call him “America's Prophet! A modern day Nostradamus with more hits than Barry Bonds and the Russian Mafia!”
Sean has achieved international fame and recognition for his stunningly accurate predictions of future events. He gave exacts dates, magnitudes and epicenters for the 1989 San Francisco earthquake, then went on to predict natural catastrophes such as the ‘92 Landers and ‘94 Northridge earthquakes, and also the ‘95 quake in Kobe, Japan, to name only a few. He has made startling predictions on national radio and television, only to have those programs return to feature him when his predictions came true.
His political and economic predictions shocked the nation. Years in advance, he foresaw Clinton's impeachment, the controversy over the 2000 vote and the election of George W. Bush. He also predicted exact dates for the post-90’s decline of the DOW and NASDAQ, and has given the exact levels -- and timing-of their subsequent rise and fall.
About Sean David Morton
He is also Managing Trustee of the Prophecy Research Institute, which since March 1993 has published the monthly Delphi Associates Newsletter, which now has nearly 20,000 subscribers worldwide.
Sean uses his talents and abilities to predict future occurrences and trends such as earth changes, political events and stock market fluctuations. He has an astounding “hit rate”, or percentage of successes. His extreme accuracy has led radio host Art Bell to call him “America's Prophet! A modern day Nostradamus with more hits than Barry Bonds and the Russian Mafia!”
Sean has achieved international fame and recognition for his stunningly accurate predictions of future events. He gave exacts dates, magnitudes and epicenters for the 1989 San Francisco earthquake, then went on to predict natural catastrophes such as the ‘92 Landers and ‘94 Northridge earthquakes, and also the ‘95 quake in Kobe, Japan, to name only a few. He has made startling predictions on national radio and television, only to have those programs return to feature him when his predictions came true.
His political and economic predictions shocked the nation. Years in advance, he foresaw Clinton's impeachment, the controversy over the 2000 vote and the election of George W. Bush. He also predicted exact dates for the post-90’s decline of the DOW and NASDAQ, and has given the exact levels -- and timing-of their subsequent rise and fall.
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