Former Canucks Owner Arthur Griffiths named in legal investigation
Arthur Griffiths, the former owner of the Vancouver Canucks and a central figure in the team's rise during the 1990s, is facing serious allegations in a B.C. Securities Commission investigation. Griffiths, who sold the Canucks in 1997 and helped build Rogers Arena (still located on Griffiths Way), has been named alongside two other directors of RoccaVerde Wellness Corporation in a case involving illegal securities distributions.
RoccaVerde, a global cannabis company, allegedly distributed securities 23 times to 22 investors between 2018 and 2019 without filing the required prospectus, netting over $300,000 in illegal proceeds. The B.C. Securities Commission claims that Griffiths, along with co-directors Hani El Rayess and Christine Mah, authorized or permitted the illegal distributions, violating the Securities Act. In addition, two other companies, Bullseye Consulting Inc. and Grand Lodge Capital Inc., along with their directors, are accused of soliciting investors for RoccaVerde without proper registration.
While these allegations have not yet been proven, Griffiths and the others involved are scheduled to appear before the commission on November 26 to respond.
Griffiths is a well-known name in Vancouver sports history. He was instrumental in bringing the Canucks into the spotlight during the 1990s, securing the construction of Rogers Arena, then known as GM Place. Under his ownership, the Canucks thrived, and he also played a role in securing the Vancouver Grizzlies NBA franchise. Griffiths even chaired the team that won the bid for the Vancouver-Whistler 2010 Winter Olympics.
Although Griffiths has faced financial challenges in the past, including near bankruptcy a decade ago, his legacy with the Canucks remains significant. This latest legal trouble adds another chapter to the storied career of one of Vancouver's most influential sports figures.
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Former Canucks owner Arthur Griffiths among those named in illegal-securities investigation
