I’ve always wondered why the government never goes after physics for being frauds. It seems pretty obvious that they can’t do what they say they can do. I guess the government figures people who believe in psychic powers get whatever they deserve, for it. But NPR reports that the Securities and Exchange Commission is going after a psychic who claims to be able to foresee markets and investments (WebCite cached article):

SEC Sues Psychic For Securities Fraud

“I have called ALL the highs and lows of the market, giving EXACT DATES for rises and crashes over the last 14 years,” Sean David Morton allegedly wrote in a newsletter back in 2006. …

So Morton managed to raise $6 million from investors, according to a lawsuit the SEC filed today accusing him of securities fraud.

According to the SEC:

Morton claimed that he would use his psychic expertise to provide investment guidance to his investing team, and falsely touted his historical success in psychically predicting the various rises and falls of the market. … However, Morton lied to investors about his past successes, and about key aspects of the Delphi Investment Group …

It’s about time a psychic was called to account for making fraudulent claims.

Hat tip: Consumerist.

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