A 91-year-old billionaire was arrested Friday on sexual assault charges spanning several decades.
Frank Stronach, who once oversaw a growing auto parts empire, was charged with five criminal offenses including rape, sexual assault, indecent assault on a female and forcible confinement.
Peel Regional Police revealed that the alleged sexual assaults lasted from the 1980s to 2023.
The Austrian-Canadian businessman was arrested in the upscale Toronto suburb of Aurora, before being released on conditions.
According to a police statement, Stronach will appear in the Ontario Court of Justice in Brampton at a later date.
Peel Regional Police revealed that the alleged sexual assaults occurred from the 1980s to 2023.
Stronach with Carmen Stamboli at the Miss Vienna pageant in 2014. The Austrian-Canadian businessman was arrested in the upscale Toronto suburb of Aurora.
Stronach’s defense lawyer said the billionaire “categorically denies” all allegations
Peel Regional Police Constable Tyler Bell confirmed there were multiple accusers, but declined to specify how large the number was.
‘Obviously, this is a high-profile case. “Our special victims unit is obligated to protect victims and in doing so, that’s why we are being lazy,” Bell said.
“There is more than one victim, but we will not confirm that number yet,” he added.
To head his defense team, Stronach has chosen distinguished attorney Brian Greenspan, whose previous notable clients included Naomi Campbell and Justin Bieber.
In a statement, Greenspan said the 91-year-old billionaire “categorically denies” all allegations that have been brought against him.
Greenspan continued: “He looks forward to the opportunity to fully respond to the allegations and maintain his legacy as a philanthropist and as an icon of the Canadian business community.”
Born in Austria in 1932, Stronach grew up under Nazi rule before moving to Canada in the mid-1950s.
In 1957, the businessman launched Magna in his garage and, over the years, built it into one of the largest suppliers of automotive parts in the world.
In 1957, Stronach launched Magna in his garage and, over the years, built it into one of the largest suppliers of automotive parts in the world. Outside of business, he ventured into politics and formed the Austrian political party Team Stronach in 2013. Here Stronach appears at the latest election campaign in Vienna.
Stronach was named a member of the Order of Canada, one of the country’s most prestigious honours. Here with Stronach are his wife, Elfriede (far left) and his daughter, Belinda (center).
Magna currently has a market capitalization of $12.52 billion.
The auto parts giant issued a statement saying they were “unaware of the investigation or allegations that have been raised beyond what was reported in the media.”
They further noted that “Stronach has had no affiliation with Magna since relinquishing control in 2010.”
Some of the entrepreneur’s other business ventures included the creation of The Stronach Group, a company specializing in horse racing.
In 2013, the auto parts magnate returned to Austria, where he entered politics by founding and leading a right-wing populist political party called Team Stronach for Austria.
Two months later, Stronach returned to Canada, where he received the Order of Canada, one of the country’s most prestigious honors.
Among the entrepreneur’s other business projects is the creation of The Stronach Group, a company specialized in horse racing.
In 2018, the billionaire sued his daughter (pictured), his two grandchildren and his former business partner Alon Ossip for more than $500 million in Ontario Superior Court.
In 2018, the billionaire sued his daughter, two grandchildren and his former business partner Alon Ossip for more than half a billion dollars in Ontario Superior Court.
Stronach alleged that they had mismanaged the family’s assets, whose control he wanted to regain.
Belinda Stronach, a former member of the Canadian Parliament and CEO of Magna, countersued her father, saying she had lost a huge amount of money on pet projects.
The case was finally resolved.
