The disgraced former sales chief of Eron Mortgage Corp., which collapsed in British Columbia 1997, has been barred from the securities business in Ontario.

Frank Biller was was sentenced to three years in prison in Vancouver last month after pleading guilty to fraud and theft charges in connection with Eron.

Eron raised $240 million from thousands of investors on mortgages and promissory notes; after the collapse, investor losses were estimated at $170 million.

The Ontario Securities Commission moved against Biller in April on grounds that his criminal conduct at Eron made him unfit to be involved in securities markets in the province.

According to a statement of allegations filed by the commission’s staff, he “was employed by and was promoting” a company called Extreme Poker Ltd., which has an address in Las Vegas and roots in Toronto. Its shares trade on the U.S. over-the-counter market.

“Following his sentence, Biller intends to return to Ontario to continue his employment with Extreme Poker,” the OSC statement said.

The OSC has issued an order barring him permanently from trading in securities in Ontario except, in certain circumstances, for his personal accounts. He is also permanetly prohibited from acting as a director or officer of any company registered with the OSC.

Written reasons for the decision are to be issued later.