Did a Psychic Fail to Foresee Suit Against Himself?
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Fri Mar 5, 2010 Sean David Morton, a self-proclaimed psychic, has been sued by the Securities and Exchange Commission (SEC) for misleading investors. Morton solicited investors through his own website and a newsletter. All told, Morton acquired approximately $6 million dollars from investors, promising them "piles of money" and spiritual happiness. Morton made claims about the stock market that were not accurate. Morton is under investigation for allegedly only using $3.2 million in the trading accounts. The remainder of the funds were funneled to various organizations. Commenting on the suit, New York's SEC director said “Morton’s self-proclaimed psychic powers were nothing more than a scam to attract investors and steal their money . . . . ”
For Psychic, Suit Came as Surprise | New York Times
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