Canadian police have arrested Austrian-Canadian billionaire Frank Stronach. The 91-year-old founder of the automotive supplier Magna is accused of sexual assault, according to a statement from the Peel Region Police. Stronach was arrested on Friday and charged with five counts – including rape, indecent assault, sexual assault and false imprisonment.
According to the police, the attacks took place between the 1980s and 2023. There are several alleged victims, said a spokesman, but did not give the exact number. “Obviously this is a high-profile case. Our special unit for victims is obliged to protect the victims and that is why we remain vague,” the spokesman continued. The police also appealed to the public to come forward if anyone has further information or has become a victim themselves.
The 91-year-old was released on bail and will soon appear before a court in Brampton, Ontario, Canada, it is said.
Stronach’s lawyer Brian Greenspan said his client “categorically” denies all allegations against him. “He looks forward to the opportunity to fully respond to the allegations and to uphold his legacy as a philanthropist and as an icon of the Canadian business community,” Canadian media quoted him as saying.
A Magna spokesman said Stronach has had no ties to the company since his departure in 2010. “We recently learned of the allegations against Frank Stronach,” the spokesman said. Magna has no further knowledge of the allegations beyond what has been reported in the media.
Frank Stronach, the billionaire founder of the auto supplier Magna, is considered one of Canada’s wealthiest people and a philanthropist. However, Stronach recently made headlines when he sued his daughter Belinda, two grandchildren and former business partner Alon Ossip in Ontario Superior Court in 2018 for more than $500 million for allegedly mismanaging the family fortune.
Belinda Stronach, a former Canadian member of parliament, filed a countersuit against her father, claiming in her response that her father had lost huge sums of money on pet projects. The case was later settled.