According to the police, Frank Stronach, an Austrian-Canadian billionaire and manufacturer of auto parts with a very large fortune has been arrested by the police on charges of sexually assaulting women over several decades.
Stronach, 91, was charged with five counts of rape, indecent assault against females, sexual assault and forcible confinement said Peel Regional Police. The statement from the police mentioned that he was released on conditions and will be appearing at Ontario Court of Justice in Brampton, Ontario in a future date.
Peel Regional Police Constable Tyler Bell confirmed more than one complaint however he refused to specify how many.
“Certainly this is a high profile case. Our Special Victims Unit has got to safeguard the victims and for that reason we have been general,” Bell said “There are multiple victims but we are not able to confirm the figure.”
A lawyer representing Frank Stronach could not be reached for comment immediately.
The charges indicate that these alleged sexual assaults took place between the 1980s up until as recently as 2023. According to Bell they are urging people who may have information or may have been victims to come forward.
Stronach, an Austrian by birth became one of Canada’s richest men after starting Magna out of his garage in 1957 and growing it into one of the world’s largest auto parts’ manufacturers.
He also established The Stronach Group which deals mainly with horse racing. He briefly entered Austrian politics more than a decade ago and has also been appointed to the Order of Canada which is among its highest honors.
A spokesperson from Magna stated that since stepping aside in 2010 Stronach hasn’t had any links with it whatsoever.
“This office was recently advised about allegations made against Mr. Frank Stronach,” Dave Niemiec wrote in an email Friday evening. “Magna does not know about this inquiry or what accusations were presented beyond what media reported.”
On Niemiec’s part, he said the company will not be commenting further on this ongoing legal matter.
In 2018, Frank Stronach sued his daughter, two grandchildren and former business partner Alon Ossip for more than $500 million in Ontario Superior Court alleging they mishandled family assets and conspired to take them over.
Belinda Stronach, a former Canadian Member of Parliament countersued her father by stating in a statement of defense that he wasted huge sums of money on vanity projects.
The case was later resolved.
