For seniors on a fixed income, it seemed like a good deal: trade in their real estate annuities or property for a steady stream of cash that would convert to a charitable donation when they die — and get a tax write-off to boot.

But the Securities and Exchange Commission charged in Miami federal court that We the People Inc. was a scam. The SEC said in a civil complaint that most of the money went to commissions and salaries for the couple who ran the Tallahassee-based operation.