For Psychic, SEC Suit Came as Surprise

[Math Is Hard]

I used to hear this guy on Coast to Coast in the middle of the night.

http://www.nytimes.com/2010/03/05/business/05psychic.html

He calls himself “America’s Prophet,” a psychic, trained by Nepalese monks in the art of time travel, who can foretell the future of the stock market.

But to the authorities, Sean David Morton is simply a fraud — and a really, really bad psychic.

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.

Magic Eight Ball? Now I see how people were fooled. The name inspires such confidence.

 

[lisab]

...nice! Signs Point to...an Indictment

Ah, Coast to Coast...I used to listen to that as a guilty pleasure . I don't think it's on any more in my area.

 

[Pinu7]

The SEC's idiocy is now on par with the FDA.