Billionaire Frank Stronach must appear in court today for sexual assault

BRAMPTON, Ontario – A hearing is scheduled for today in Brampton, Ontario court in the case of billionaire Frank Stronach, who is accused of sexually abusing 10 female plaintiffs.

Last month, 91-year-old Stronach was initially charged with five sexual offenses against three defendants, soon followed by eight more charges against seven defendants.

According to court documents, the charges include rape, attempted rape, sexual assault, false imprisonment and sexual assault.

They refer to alleged incidents from 1977 and this year.

Stronach’s lawyer Brian Greenspan said his client denies all allegations against him and intends to “vigorously” defend his reputation.

In a statement released last Friday, Greenspan added that Stronach remains presumed innocent and that he would respond to the allegations in court.

Stronach became one of Canada’s richest people as the founder of auto parts giant Magna, a company he started in his garage in 1957.

He also founded The Stronach Group, a company specializing in horse racing, and in 2018 founded Stronach International, a company focused on organic food and “microelectric mobility.”

Stronach resigned as CEO of Magna in 2011 and founded his own political party in his native Austria the following year.

This report by The Canadian Press was first published July 8, 2024.