Frank Stronach, an Austrian-Canadian auto parts billionaire, has been arrested on sexual assault charges dating back decades, according to Peel Regional Police. The 91-year-old has been charged with five crimes, including rape, indecent assault on a female, sexual assault, and forcible confinement. He was released with conditions and will appear at the Ontario Court of Justice in Brampton at a later date. The police have revealed that there is more than one accuser in this case, but they have not disclosed the exact number. The alleged sexual assaults are said to have occurred from the 1980s up to as recent as 2023, and the police are urging any other potential victims to come forward.
Despite the charges against him, Stronach has denied all allegations of impropriety through his lawyer, Brian Greenspan. Greenspan stated in an email that Stronach looks forward to fully responding to the charges and maintaining his reputation as a philanthropist and icon of the Canadian business community. Stronach, who founded Magna in his garage in 1957 and grew it into one of the world’s largest auto parts suppliers, also established The Stronach Group, a company focused on horse racing. Although he briefly entered Austrian politics and received honors in Canada, Stronach has had no affiliation with Magna since relinquishing control in 2010.
Magna, the company founded by Stronach, has stated that they were recently made aware of the charges against him. Dave Niemiec, a spokesperson for Magna, mentioned that the company has no knowledge of the investigation or the allegations beyond what has been reported in the media. Niemiec also stated that Magna would not comment further on the ongoing legal matter. In 2018, Stronach was involved in a legal dispute with his daughter, Belinda Stronach, two grandchildren, and a former business associate, Alon Ossip, where he sued them for mismanagement of family assets. Belinda Stronach countersued her father, alleging that he lost money on personal projects. The case was eventually settled.
The case involving Frank Stronach has drawn attention due to his high profile status as a billionaire and business magnate. The allegations of sexual assault spanning decades have raised serious concerns and prompted the police to appeal to other potential victims to come forward with information. Stronach’s denial of the charges through his legal representation adds another layer of complexity to the situation. As the legal process unfolds, the public will be watching closely to see how this case affects Stronach’s reputation and legacy as a prominent figure in the Canadian business community. The involvement of Magna, the company he founded, adds a business dimension to the case, further complicating the narrative surrounding the allegations against Stronach.
