SEC Says N-A-Y To ESP

Stock and Bond Fraud, including Boiler Rooms / Pump and Dump Schemes, Mutual Fund & Hedge Fund Fraud, FOREX scams, plus Churning, Private Placements, Venture and Bridge Funding, IPOs, Viaticals Fraud, HYIP and Prime Bank scams, MTNs, Historical Notes, Recovery Schemes, etc. Includes the Jim Norman Project and the Michael Dotson Project and similar HYIP scams.
User avatar
The Observer
Further Moderator
Posts: 6587
Joined: Fri Feb 07, 2003 12:48 am
Location: Virgin Islands Gunsmith

SEC Says N-A-Y To ESP

Postby The Observer » Fri Mar 05, 2010 1:19 am

"I could be dead wrong on this" - Irwin Schiff

"Do you realize I may even be delusional with respect to my income tax beliefs? " - Irwin Schiff

bmielke

Re: SEC Says N-A-Y To ESP

Postby bmielke » Fri Mar 05, 2010 4:14 pm

Shouldn't he have seen this coming? :evil:

User avatar
Pottapaug1938
Supreme Prophet (Junior Division)
Posts: 4929
Joined: Thu Apr 23, 2009 9:26 pm
Location: In the woods, with a Hudson Bay axe in my hands.

Re: SEC Says N-A-Y To ESP

Postby Pottapaug1938 » Fri Mar 05, 2010 4:40 pm

bmielke wrote:Shouldn't he have seen this coming? :evil:


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."
"We've been attacked by the intelligent, educated segment of the culture." -- Pastor Ray Mummert, Dover, PA, during an attempt to introduce creationism -- er, "intelligent design", into the Dover Public Schools

bmielke

Re: SEC Says N-A-Y To ESP

Postby bmielke » Fri Mar 05, 2010 10:04 pm

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.

User avatar
Doktor Avalanche
Asst Secretary, the Dept of Jesters
Posts: 1767
Joined: Thu May 03, 2007 11:20 pm
Location: Yuba City, CA
Contact:

Re: SEC Says N-A-Y To ESP

Postby Doktor Avalanche » Sat Mar 06, 2010 9:58 am

Pottapaug1938 wrote:
bmielke wrote:Shouldn't he have seen this coming? :evil:

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?
The laissez-faire argument relies on the same tacit appeal to perfection as does communism. - George Soros


Return to “THE DILIGIZER BOARD -- Securities Fraud -- Due Diligence in Finance”

Who is online

Users browsing this forum: No registered users and 1 guest