The British Columbia Securities Commission (BCSC) announced that Arthur Griffiths, former director and CEO of Vancouver-based RoccaVerde Wellness Corporation, has paid CAD 30,000 in connection with misconduct tied to the company’s illegal distribution of securities. Between February 2019 and October 2019, RoccaVerde raised proceeds of CAD 192,600 by distributing securities without filing a prospectus and without relying on a prospectus exemption. The company used finders to solicit and refer purported accredited investors, but many of those investors were not accredited; Griffiths admitted he did not do enough to ensure compliance with British Columbia’s Securities Act prospectus requirements. The BCSC said investors lost all of their money and that, as a director and CEO, Griffiths authorized, permitted, or acquiesced in the illegal distributions and therefore also illegally distributed securities.
British Columbia Securities Commission 2025-09-29
British Columbia Securities Commission collects CAD 30,000 from former RoccaVerde CEO over illegal securities distributions
The British Columbia Securities Commission (BCSC) announced that Arthur Griffiths, former director and CEO of RoccaVerde Wellness Corporation, paid CAD 30,000 for misconduct related to illegal securities distribution. RoccaVerde raised CAD 192,600 without a prospectus or exemption, using finders to solicit investors, many of whom were not accredited. Griffiths admitted insufficient compliance with the Securities Act, resulting in total investor losses.