Securities attorneys at the SEC have filed actions in United States District Court for the Southern District of Florida in connection with alleged securities fraud by a group called We the People, Inc. of the United States. According to the SEC
We The People defrauded investors by making false and misleading statements in connection with the offer, sale, and purchase of securities. Enticed by We The People’s scheme, investors transferred assets – stocks, annuities, real estate, or cash – to We The People in exchange for an investment product that We The People called a “tax-deductible gift annuity” or “charitable gift annuity” (“CGA”). From June 2008 through April 2012, We The People raised over $75 million in assets from approximately 400 investors in over 30 states, almost all of whom are elderly.