Lucero

UNITED STATES DISTRICT COURT NORTHERN DISTRICT OF CALIFORNIA San Francisco Division LUIS HURTADO LUCERO, Case No. 18-cv-05395-LB

Plaintiff,

ORDER GRANTING IRA

v. DEFENDANTS’ MOTION TO DISMISS

IRA SERVICES, INC., et al., Re: ECF No. 81 Defendants. 16 INTRODUCTION Plaintiff Luis Hurtado Lucero alleges that he was defrauded into placing his retirement savings of approximately $350,000 into a self-directed individual retirement account (“IRA”) program — the “Lazzaro & Associates five-year trading portfolio” — on the premise that the Program would pay him $2,000 a month, tax free, for five years, and then return his principal. Per the Program, Mr. Lucero’s retirement savings were used to buy shares in two companies: Liber Abaci, Inc. and Enterprise Technologies, LLC, later registered with the California Secretary of State as Atlas Enterprise Technologies, LLC. The Program turned out to be an illegal Ponzi scheme — Mr. Lucero…