Lucero

1 2 3 4 5 6 7 8 UNITED STATES DISTRICT COURT 9 NORTHERN DISTRICT OF CALIFORNIA 10 San Francisco Division 11 LUIS HURTADO LUCERO, Case No. 18-cv-05395-LB

12 Plaintiff,

ORDER GRANTING IRA

13 v. DEFENDANTS’ MOTION TO DISMISS

14 IRA SERVICES, INC., et al., Re: ECF No. 81 15 Defendants. 16 17 INTRODUCTION 18 Plaintiff Luis Hurtado Lucero alleges that he was defrauded into placing his retirement savings 19 of approximately $350,000 into a self-directed individual retirement account (“IRA”) program — 20 the “Lazzaro & Associates five-year trading portfolio” — on the premise that the Program would 21 pay him $2,000 a month, tax free, for five years, and then return his principal. Per the Program, 22 Mr. Lucero’s retirement savings were used to buy shares in two companies: Liber Abaci, Inc. and 23 Enterprise Technologies, LLC, later registered with the California Secretary of State as Atlas 24 Enterprise Technologies, LLC. The Program turned out to be an illegal Ponzi scheme — Mr. 25 Lucero…