Austrian-Canadian billionaire and founder of Magna International, Frank Stronach, has been arrested on multiple sexual assault charges, according to police. The alleged incidents span several decades, involving accusations that date back to the 1980s and continue up to as recently as 2023.
Stronach, the founder of auto parts giant Magna International, was charged Friday with five crimes including rape, indecent assault on a female, sexual assault and forcible confinement released with conditions and is scheduled to appear at the Ontario Court of Justice in Brampton at a later date. The police allege that the incidents span from the 1980s to as recent as 2023 and involve more than one victim, though the exact number of accusers has not been disclosed.
Constable Tyler Bell emphasized the sensitivity of the case, stating that the special victims unit is focused on protecting the victims, which is why details are limited. "Obviously, this is a high-profile case. Our Special Victims Unit is bound to protect the victims and in doing so that's why we are being vague," Bell said. The police are urging anyone with information or who may have been a victim to come forward.
Stronach has not responded to the charges but has retained prominent Canadian defense lawyer Brian Greenspan. Greenspan stated in an email that Stronach "categorically denies the allegations of impropriety" and looks forward to addressing the charges fully to maintain his legacy as a philanthropist and business icon.
Frank Stronach, originally from Austria, built Magna International from a garage operation in 1957 into one of the world's largest auto parts suppliers. He also founded The Stronach Group, specializing in horse racing, and briefly ventured into Austrian politics. Stronach has been honored with the Order of Canada, one of the country's highest recognitions.
In 2010, Stronach stepped down from Magna, and the company confirmed that he has had no affiliation since then. "We have recently been made aware of the charges filed against Frank Stronach," said Dave Niemiec, a Magna spokesperson, in an email. "Magna has no knowledge of the investigation or the allegations that have been raised beyond what has been reported in the media." Niemiec added that the company would not comment further on the ongoing legal matter.
In 2018, Stronach sued his daughter, two grandchildren, and a former business associate for over $500 million, accusing them of mismanaging the family's assets. Belinda Stronach, a former Canadian MP, countersued, claiming her father lost vast sums on personal projects. The family dispute was later settled.
As the investigation continues, further details are expected to emerge.
