Canadian billionaire arrested for sexual assault

Austrian-Canadian auto parts billionaire Frank Stronach has been arrested on decades-old sexual assault charges, police said.

The 91-year-old was charged with five crimes on Friday, including rape, sexual assault of a woman, sexual harassment and false imprisonment, Peel Regional Police said.

He was released on conditions and will appear at a later date in the Ontario Court Justice in Brampton, Ontario, the police statement said.

Peel Region Police Detective Tyler Bell said there was more than one accuser but declined to say how many.

“This is obviously a case that is attracting a lot of attention. Our special victims unit is committed to protecting victims and that is why we are remaining vague,” Bell said. “There is more than one victim, but we cannot confirm the number yet.”

Police believe the sexual assaults took place between the 1980s and 2023. Bell said they are appealing to anyone who has information or has been a victim to come forward.

Stronach did not immediately respond to a request for comment.

He has hired prominent Canadian criminal defense attorney Brian Greenspan.

“Mr. Stronach categorically denies the allegations of inappropriate conduct made against him,” Mr. Greenspan said in an email.

“He looks forward to the opportunity to fully address the allegations and to uphold his legacy as both a philanthropist and an icon of Canadian business.”

Austrian-born Stronach became one of Canada’s richest people by founding Magna in his garage in 1957 and building it into one of the world’s largest auto parts suppliers.

He also founded the Stronach Group, a company specializing in horse racing. Over a decade ago, he took a brief foray into Austrian politics and was awarded the Order of Canada, one of the country’s highest honors.

A Magna spokesman said Stronach has had no ties to the company since he gave up control in 2010.