Robert A. Blair

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Robert A Blair is President of home buyers of America Inc. He was an equity partner at Manatt, Phelps and Philips from 1995 to 1999. He was also Chairman of National advisory board of IPG Photonics is the world leader in high performance fiber lasers, fiber amplifiers and Raman lasers for research, communications and other commercial applications. They make a complete range of Laser equipments for commercial and military use.

On March 6, 2000, Federal trade commission, Department of Justice, along with 20 other states, issued a warning against amongst others Robert A Blair. State Banking Commissioner John P. Burke in his order said that Home Buyers of America, Inc. should cease and desist from conducting business in Connecticut. The reason given was that companies were operating Connecticut and doing business in “unregistered business opportunities”.

Mr. Burke explained that these companies were collectively involved in giving training and offering market promotions. Investor were asked to locate foreclosed property and were told that company would purchase these properties and the investors would be rewarded. Many persons did locate such properties but the company never purchased these properties.

The law states that this kind of venture should have been registered as business opportunity and all the legal provisions should have been mentioned in the offer for business. A fine of $10,000 can be imposed for violation of this infringement.

Burke cautioned against such companies. Investors should get more information before doing any investment by calling (860) 240-8230 (Security division of department of companies. They can also write to 260 Constitution Plaza, Hartford, CT 06103-1800.

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