Raine is the son of Canadian skiing legend Nancy Greene.
A London ski cross racer and another Canadian were arrested and detained for drunk driving and stealing a vehicle at the 2018 Winter Olympics, according to local police.
Canadian Olympic Committee CEO Chris Overholt confirmed on Saturday that an investigation was underway but would not elaborate. The 48-year-old manager was allegedly driving the stolen vehicle while under the influence of alcohol.
Duncan and his wife released a statement, apologizing for the incident in a press conference on Saturday.
"We are deeply sorry", Dave and Maja said in a joint statement released on Saturday night.
Duncan finished eighth in the ski cross competition on Wednesday, while his teammate Brady Leman won gold.
Raine, according to police, was behind the wheel and allegedly had a blood-alcohol level more than three times the legal limit.
One of the Canadian team's slogans for the Pyeongchang Games is "Be Virtuous, Be Victorious, Be Olympic".
William Ryan Raine, the ski cross high-performance director, called his actions "inexcusable" and apologized to the owner of the involved vehicle in his statement released by the Canadian Olympic Committee. "All team members are expected to respect the laws of South Korea and all places we compete in around the world".
"We have information that individuals attached to our team were involved in the investigation and they're cooperating, and we take this matter, of course, very, very seriously", he said, according to CBC.
The frigid Pyeongchang weather proved too much for the three, who said they took a auto they found unattended with the engine running because it was too cold outside, according to the South Korean police source, who was not authorized to speak to the media.