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SEC ACCUSES MORTON OF INVESTOR FRAUD

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NEW YORK – Sean David Morton, a psychic and self-described "America's Prophet," apparently did not see investigators coming when he touted investments. The U.S. Securities and Exchange Commission has filed a lawsuit civil fraud charges accusing Morton of fraudulently raising more than $6 million from more than 100 investors for Delphi Investment Group in 2006 and 2007.

"In soliciting these individuals, Morton claimed that he would use his psychic expertise to provide investment guidance to his investment team, and falsely touted his historical success in psychically predicting the various rises and falls of the market," the complaint filed by the SEC said. The U.S. market regulator's lawsuit said Morton and his wife Melissa Morton diverted investor money, including at least $240,000 to their own non-profit religious organization, Prophecy Research Institute (PRI). The SEC’s claim said Morton enticed investors through a monthly Delphi Associates Newsletter, a web site and public appearances in New York City and elsewhere. Morton also broadcasts on a nationally syndicated radio show with an average audience of nearly 3 million listeners, the SEC said. "While Morton promised investors that all of their funds would be used to trade foreign currencies, in fact, he invested only about half with foreign currency trading firms," the SEC said.