SEC Says N-A-Y To ESP

[The Observer]

Just when you thought you have seen it all....

http://blogs.abcnews.com/theworldnewser ... fraud.html

[bmielke]

Shouldn't he have seen this coming?

[Pottapaug1938]

Shouldn't he have seen this coming?

A lot of times, when I read stories about ESP, someone pipes up with something like "if you have this sort of power, why don't you use it to pick a few hot stocks, make a killing, and set yourself up for a life of wealth and leisure, instead of hustling people in ads on TV soap operas; or why don't you use it to prevent tragedies such as 9/11?" The usual response is something along the lines of "we don't wish to use Our Powers for petty, pecuniary, mercenary or political purposes" or "the Power just doesn't work that way."

[bmielke]

If anyone one is interested the SEC Complaint can be viewed Here.

Of interest on Page 7 we have:

21.
Morton's Newsletter is a paid subscription-only periodical sent out on an approximately monthly basis to approximately 20,000 subscribers worldwide. In the Newsletter, Morton solicited investors by touting the success ofthe Delphi Investment Group. For example, in a July 20, 2006, Newsletter, Morton wrote that the Delphi Investment Group had already been extremely successful: "[W]e are averaging 3 to 5% PER DAY, and in the last month we have had gains of 12%, 19% and 26% in a single day." (emphasis in original.)

On Page 8:

25.
The Offering Letter also states that Morton and the investors will share in the profits from the investments in the foreign currencies and divide the returns on the investments as a "50/50 SPLIT ofPROFITS ONLY!" and that the process will "be completely TRANSPARENT and TOTALLY ON THE UP AND UP!" (emphasis in origina1.). Morton also falsely assured his investors that "the Feds can't look over our shoulder, interfere or regulate any ofit."

To me these two claims scream fraud.

I skimmed the whole thing I was really hoping some of the relief sought would enjoin him from claiming psychic powers but it wasn't there. I suppose everyone has a right to make a living.

[Doktor Avalanche]

Shouldn't he have seen this coming?

The usual response is something along the lines of "we don't wish to use Our Powers for petty, pecuniary, mercenary or political purposes" or "the Power just doesn't work that way."

But they have no problem taking your money for petty, pecuniary, mercenary or political purposes.

Reminds me of a scene in Dr. Strangelove:

General: Try one of these Jamaican cigars, ambassador, they're pretty good.

Ambassador de Sadesky: Thank you, no. I do not support the work of imperialist stooges.

General: Oh, only Commie stooges, eh?