Austrian-Canadian auto parts billionaire Frank Stronach was arrested on sexual assault charges spanning decades, police said. The 91-year-old was charged with five crimes including rape, indecent assault on a female, sexual assault, and forcible confinement by Peel Regional Police.
Peel Regional Police Constable Tyler Bell confirmed that there is more than one accuser but declined to specify the exact number. “Our special victims unit is bound to protect the victims, and in doing so, that’s why we are being vague,” Bell said. “There is more than one victim, but we won’t confirm that number yet.”
The alleged sexual assaults are said to have occurred from the 1980s to as recent as 2023. Police are appealing for individuals with information or who have been victims to come forward.
Stronach, who founded Magna in his garage in 1957 and built it into one of the world’s largest suppliers of auto parts, has denied the allegations through his lawyer Brian Greenspan. Greenspan stated that Stronach looks forward to responding to the charges and maintaining his legacy as a philanthropist and icon of the Canadian business community.
Despite his success in business, Stronach has had no affiliation with Magna since relinquishing control in 2010. The company spokesperson, Dave Niemiec, stated that they have no knowledge of the investigation or the allegations beyond what has been reported in the media.
In a separate legal matter, Stronach sued his daughter, two grandchildren, and a former business associate for over $500 million in 2018, alleging mismanagement of the family’s assets. The case was settled after his daughter, Belinda Stronach, countersued, claiming her father lost significant sums of money on personal projects.
The news of Stronach’s arrest has shocked many, given his prominent status in both the business and political spheres. The case is ongoing, and further updates are awaited as the legal proceedings progress.
