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by Mike Caswell

Vancouver's Robert Hillis Miller has appealed a 10-year ban and $956,166 in financial sanctions that the U.S. Securities and Exchange Commission won against him for the improper sale of millions of shares in an OTC Markets listing. (All figures are in U.S. dollars.) The SEC claimed that Mr. Miller secretly sold stock in unregistered offerings. His scheme included the improper sale of $1.39-million in shares and involved front companies in Uruguay, the SEC said.

Mr. Miller's appeal is contained in a notice that he filed in federal court in Maryland on Friday, Oct. 31. The brief document does not provide any details of the appeal, but Mr. Miller previously claimed that he sold the stock as part of an effort to finance his company, Abakan Inc., and that he did not profit from the transaction. He failed to report the sales as a result of "filing errors" and there was no intent to deceive, he said.

The SEC, meanwhile, claimed that Mr. Miller had realized more than $1-million from the scheme. The amount included payments he had received from Abakan based on "virtually no information." Specific transactions identified by the SEC were payments to Mr. Miller's second ex-wife and to a private entity that he controlled.

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