Billionaire businessman Frank Stronach has been criminally charged after a sexual assault investigation into incidents police say date back to the 1980s.
Peel police announced early Friday evening that the 91-year-old Stronach had been arrested and charged with five offences, including rape, indecent assault on a female, two charges of sexual assault, and forcible confinement. The incidents are alleged to have spanned from the 1980s until 2023.
Stronach is the founder of Magna International, an automotive parts company based in Aurora. He has been named to the Order of Canada.
”Mr. Stronach categorically denies the allegations of impropriety which have been brought against him,” said Brian Greenspan, one of Canada’s most high-profile criminal defence lawyers, who will be representing Stronach.
“He looks forward to the opportunity to fully respond to the charges and to maintain his legacy, both as a philanthropist and as an icon of the Canadian business community,” Greenspan said Friday night.
Reached on his cellphone Friday evening, Stronach said, “No. Not arrested, I’m here at my restaurant, OK. Thanks for calling,” before hanging up.
Police are appealing to members of the public to come forward if they have any relevant information or may also be victims.
“He’s been charged and given a court date and been released on some form of conditions. Unfortunately, I cannot be specific as to what the conditions are in order to protect the privacy of the victims, ” said Const. Tyler Bell, public information officer for Peel police.
Due to the Stronach’s high profile, Bell said, police were being “purposely vague” as they didn’t want to give any information that might identify the victims, including saying how many there might be.
“This is, obviously, a large investigation and it’s very much in its infancy,” said Bell. “We are being purposely vague, as it might make identifying the victim’s easier, which we don’t want to do, as in doing so, it could breach the integrity of the investigation.”
Stronach was born in Austria in 1932, and emigrated to Canada in 1954 with only a few hundred dollars. He arrived in Montreal before eventually settling in Ontario, and proceeding on his path to becoming one of Canada’s richest men.
In 1958, he started Multimatic Investments, which eventually merged with Magna Electronics in 1969. The name was changed to Magna International in 1973, and by the 1990s, it grew into one of the largest auto parts manufacturers in the world. He was at the head of the company for decades and it led to him being considered a titan in the Canadian business world.
He also briefly wrote freelance opinion columns for the Star.
Stronach was inducted the Canadian Business Hall of Fame in 1996. Canadian Business magazine named him the 31st richest Canadian in 2017 estimating his net worth then was over $3 billion.
Recently, Stronach’s business ventures include promoting a three-wheeled, electric micro-mobility vehicle called Sarit, which is an acronym for Safe Affordable Reliable Innovative Transport.
Along the way Stronach has dabbled in other fields, like politics, where he ran as a candidate for the Liberals for the riding of York-Simcoe in 1988, but lost. He’s also become more involved with business and politics in his native Austria, including starting a political party there in the 2010s. He also has been involved in thoroughbred horse racing.
Stronach is scheduled to appear in court on July 8.
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