Sean David Morton and his co-defendant Melissa Morton appear to be
nearing the end in thier alleged multi-million dollar scheme to defraud investors
investors out of more than $6,000,000 and diverting money for personal use
Morton began soliciting investors through his self published newsletter, at public events, on radio programs, and through his website by promising investors that his so-called psychic powers were helping him to predict the stock market. Morton went as far as stating in his newsletter, "I have called all the highs and lows of the market, giving exact dates for rises and crashes over the last 14 years."
While promising the funds would be invested in trading foreign currencies, according to the SEC, The Mortons used about half of all investor money for that purpose and funneled nearly $250,000.00 to what Morton alleges is his nonprofit religious institute, the Prophecy Research Institute.The Mortons were ordered by a federal judge to respond to the actual complaint and to cease the disjointed legal documents they attempted to stall the court with over issues that had previously been ruled on.
According to the SEC, The Mortons have failed to directly respond to the complaint filed against them, forcing the SEC to file for summary judgement against The Mortons. The summary judgement filing is currently being reviewed. No date for a decision has been set.
Sean David Morton was first exposed in 2001 in the undisputed investigation, The Shameless Psychic and his Prophecy of Lies. The investigation was published by ufowatchdog.com, which Morton attempted to sue and lost.