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by Mike Caswell

The U.S. Securities and Exchange Commission has asked a Maryland judge for $1.2-million in sanctions and a permanent ban for Robert Hillis Miller, a former Vancouverite charged for secretly selling millions of shares in an OTC Markets listing that he controlled. (All figures are in U.S. dollars.) The SEC said that Mr. Miller failed to disclose to investors that he held stock through front companies in Uruguay. Those companies unloaded shares in a roundabout fashion while Mr. Miller told investors that his holdings were unchanged, the SEC claimed.

The penalties for Mr. Miller are contained in a proposed judgment filed on Sept. 8, 2023, in federal court in Maryland. The SEC is seeking disgorgement of $517,730 in gains, plus interest, and a $480,000 fine. The SEC is also asking that the judge permanently ban Mr. Miller from penny stocks and from serving as an officer and director. The request comes about three months after Mr. Miller's trial, which ended with a jury finding him liable for the scheme.

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