We the People, Inc. of the United States (“We the People”), a purported charitable organization registered in Massachusetts, based in Tallahassee, Florida, and operating nationwide, has been accused of defrauding investors across the country in a fraudulent investment scheme.
We the People’s promoters, Richard Olive and his wife, Susan Olive, had already been indicted for fraud in connection with an unrelated investment program they allegedly promoted, called National Foundation of America (“NFOA”).
Investigation by securities lawyers Alan Rosca and Joe Peiffer indicates that We the People offered an investment program called “Charitable Gift Annuities” (“CGA“) to the investing public nationwide.
Court records reviewed by attorneys Rosca and Peiffer allege that, through the sale of CGAs, We the People has raised over $75 million from approximately 400 investors in over 30 states.
Attorneys Rosca and Peiffer’s investigation suggests that, in order to promote the allegedly fraudulent “CGA” program to investors nationwide, we the People recruited a network of financial professionals who marketed and sold the unregistered “CGA” securities to their customers.
“The Charitable Gift Annuities sold by We the People appear to be securities, offered to the public in violation of the securities rules and regulations. Securities broker-dealer firms have a duty to review and approve the investment products sold by their financial professionals to the public,” said attorney Alan Rosca.
“Broker-dealer firms have a duty to supervise their registered representatives and make sure that only approved products are offered to public investors. We will continue to hold securities industry members liable when they fail in their duties to protect their customers and allow unlawful investments to be sold to the public,” said attorney Joe Peiffer.
“We the People” investors who lost money invested in the CGI program are encouraged to contact attorneys Alan Rosca or Joe Peiffer for a free evaluation of their case, toll free at (888) 998-0520.
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Author deals with a purported charitable organization - We the People, Inc. of the United States, registered in Massachusetts, based in Tallahassee, Florida, and operating nationwide. It is based on investigation by Alan Rosca and Joe Peiffer indicates that we the People offered an investment program called We the people CGA - “Charitable Gift Annuities” to the investing public nationwide. For more info please visit - www.wethepeoplefraud.com
We the People, Inc. of the United States Accused of Fraud