Canadian billionaire Frank Stronach arrested for alleged sexual assault and rape charges
Austrian-Canadian auto parts billionaire Frank Stronach was arrested Friday on sexual assault charges covering decades, police said Friday.
Stronach, 91, was charged with five crimes including rape, indecent assault on a female, sexual assault and forcible confinement, Peel Regional Police said. He was released with conditions and will appear at the Ontario Court of Justice in Brampton, Ontario, at a later date, the police statement said.
Peel Regional Police Constable Tyler Bell said there is more than one accuser but declined to say how many.
“Obviously, this is a high-profile case. Our special victims unit is bound to protect the victims and in doing so that’s why were are being vague,” Bell said. “There is more than one victim but we won’t confirm that number yet.”
A lawyer for Stronach didn’t immediately respond for a request for comment.
What are the charges against Frank Stronach?
Police allege the sexual assaults occurred from the 1980s to as recent as 2023. Bell said they are appealing for people to come forward if they have information or have been victims.
The billionaire founder of Magna auto parts has also had major investments in horse racing and made a brief foray into Austrian politics more than a decade ago. He has been named to the Order of Canada, one of the country’s highest honors.
A Magna spokesperson said Stronach has had no affiliation with the company since relinquishing control in 2010.
“We have recently been made aware of the charges filed against Frank Stronach,” Dave Niemiec said in an email Friday evening. “Magna has no knowledge of the investigation or the allegations that have been raised beyond what has been reported in the media.”
Niemiec said the company would not comment further on the ongoing legal matter.
In 2018, Frank sued his daughter, two grandchildren and former business associate Alon Ossip for over $500 million in Ontario Superior Court alleging they mismanaged the family’s assets and conspired to take control of them.
Belinda Stronach, a former Canadian Member of Parliament, countersued her father, saying in a statement of defense that he lost vast sums of money on pet projects.