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by Mike Caswell

The B.C. Securities Commission has found Port Moody's Brandon Boddy liable for obstruction of justice after he failed to produce records related to Braxia Scientific Corp., a now-defunct Canadian Securities Exchange listing. The BCSC says that it was seeking documents from Mr. Boddy as part of an investigation into the promotion of Braxia and the accuracy of the company's disclosure. Mr. Boddy was one of the subjects of that investigation.

The finding against Mr. Boddy is contained in a decision that the BCSC released on Wednesday, May 13. The decision deals only with liability, and the BCSC has not yet determined any penalties. The regulator will hold a separate sanctions hearing.

The case arises from Mr. Boddy's work as a consultant and shareholder of Braxia (then known as Champignon Brands Inc.), as well as his ownership of entities that Braxia acquired. The BCSC says that it was looking into his roles with the company and on July 28, 2023, requested records related to the transactions. The BCSC also issued a summons requiring Mr. Boddy to attend an interview.

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