Posted: Mar 4, 2010 4:50 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.