TORONTO — 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.
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. 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.”
He said the company would not comment further on the ongoing legal matter.
Frank Stronach, the 91-year-old Canadian auto parts billionaire, has recently made headlines after being arrested on sexual assault charges. The news has shocked many, as Stronach is a well-known figure in the business world and has built a successful empire over the years.
Stronach, who founded the auto parts company Magna International in 1957, has been a prominent figure in the Canadian business community for decades. His company has grown to become one of the largest auto parts manufacturers in the world, with operations in over 29 countries.
The allegations against Stronach are serious and have raised questions about his reputation and legacy. According to reports, the alleged incidents occurred several years ago, and the victims have come forward to seek justice. The details of the charges have not been made public, but Stronach has denied any wrongdoing.
The news of Stronach’s arrest has sparked a debate about the issue of sexual assault and harassment in the workplace, especially in industries dominated by powerful men. The #MeToo movement has brought attention to the prevalence of such behavior and has empowered victims to speak out against their abusers.
As a billionaire and a public figure, Stronach’s case has also raised questions about accountability and privilege. Many are wondering if his wealth and status will shield him from facing the consequences of his actions. It remains to be seen how the legal proceedings will unfold and what impact they will have on Stronach’s reputation and business empire.
In the meantime, the allegations against Stronach serve as a reminder that no one is above the law, regardless of their wealth or influence. It is important for victims to feel empowered to come forward and seek justice, and for society to hold perpetrators accountable for their actions. The case also highlights the need for organizations to have proper protocols in place to prevent and address instances of sexual harassment and assault in the workplace.
