Mar 12, 2010

SEC Fraud Lawsuit Against Sean David Morton Not First, Likely Not Last

Bunk Psychic and Wife Sued by Former Investors

ABOVE: Ill-gotten gains? The SEC alleges Sean David Morton (right) and Melissa Morton (left) defrauded investors out of over $6,000,000.00.

Self proclaimed psychic Sean David Morton and his wife (some might say accomplice) Melissa Morton are alleged to have scammed investors out of over $6,000,000 in a scheme the SEC claims that Sean David Morton told investors and potential investors he could predict the outcome of trading foreign currencies.

Sean David Morton was so bold with his claims that he wrote to potential investors, “I have called ALL the highs and lows of the market, giving EXACT DATES for rises and crashes over the last 14 years,” while alleging the investment had at one point made a 117% profit. Apparently that boast turned out to be just that, and the SEC isn't the only lawsuit The Mortons are or have faced in connection with their alleged $6,000,000 fraud.

In various lawsuits filed by private parties, there have been at least four separate legal actions filed against Sean David Morton, Melissa Morton, and their companies used in the allaeged fraud racket; Vajra Productions, LLC, 27 Investments, LLC, Delphi Associates Investment Group, and Magic Eight Ball Distributing, Inc., including the two following cases from a year ago: Saunders v. Morton et al (Verrmont) Bass v. Morton et al (Washington tate) In the official complaint filed against the The Mortons by the SEC, mention is made of at least two New York residents successfully suing The Mortons.

It is unknown how many other lawsuits have been filed against The Mortons, but surely with over one-hundred investors allegedly being defrauded, there are likely more lawsuits on the way. It's already been said, but how did such a supposedly successful psychic not foresee such an event coming into his life? Perhaps he was too busy seeing dollar signs...

No comments:

Bunk Psychic Released from Prison