Canadian Billionaire Frank Stronach Arrested On Rape, Sexual Assault Charges

Canadian billionaire Frank Stronach was on Friday arrested on rape and sexual assault charges, police said. The 91-year-old businessman was arrested from the elite Toronto suburb of Aurora. 

In an official statement, the Peel Regional Police said the alleged sexual assaults spanned from the 1980s to 2023.

“Frank Stronach was arrested and charged with five criminal offences, including rape, indecent assault on a female, sexual assaults, and forcible confinement,” the police said. 

They also appealed to the public to come forward if they have any relevant information.    

Stronach, who is the founder of Canada’s Magna International, which manufactures parts for automakers, has been released on conditions and will appear at the Ontario Court of Justice in Brampton at a later date, the police said. 

His lawyer, however, said he “categorically denies” all allegations that have been brought against him.

“He looks forward to the opportunity to fully respond to the charges and to maintain his legacy as a philanthropist and as an icon of the Canadian business community,” Brian Greenspan, the lawyer representing Stronach, was quoted as saying by Reuters.

Magna said it had no knowledge of the investigation or the allegations that have been raised beyond what has been reported in the media.

“Stronach has had no affiliation with Magna since he relinquishing control in 2010,” Reuters quoted the company as saying.