Canadian business mogul Frank Stronach, known for his success in the auto parts industry, has recently faced serious allegations of sexual assault dating back several decades. The 91-year-old billionaire was arrested by Peel Regional Police on Friday and charged with offenses including rape, indecent assault, sexual assault, and forcible confinement.
According to Constable Tyler Bell, there are multiple accusers involved in the case, although the exact number has not been disclosed to the public. The alleged incidents of sexual assault are said to have taken place from the 1980s up to as recently as 2023. Authorities are urging anyone with relevant information or who may have been a victim to come forward and assist in the investigation.
Frank Stronach, who has vehemently denied the allegations through his defense lawyer Brian Greenspan, is scheduled to appear in court at a later date to address the charges. Greenspan emphasized that his client refutes the claims and is eager to defend his reputation as a respected figure in both philanthropy and the Canadian business world.
Stronach, originally from Austria, achieved immense success by founding Magna in 1957, which grew to become a global leader in auto parts manufacturing. In addition to his business ventures, he also established The Stronach Group, a company focused on horse racing. Despite his past political involvement in Austria and receiving prestigious honors in Canada, Stronach has distanced himself from Magna since stepping down in 2010.
A spokesperson for Magna stated that the company is not associated with the legal proceedings against Stronach and has limited knowledge of the situation beyond media reports. This development comes after a previous legal dispute within the Stronach family, where Frank sued his daughter, grandchildren, and a former associate for alleged mismanagement of assets. The contentious case was eventually resolved through a settlement.
As the investigation into the sexual assault allegations unfolds, the public awaits further updates on the high-profile case involving the prominent Canadian figure. Despite his past achievements and contributions to various industries, Frank Stronach now finds himself entangled in a legal battle that threatens to tarnish his legacy.