91-year-old Canadian auto parts billionaire Frank Stronach was arrested for sexual assault

“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.”

A lawyer for Stronach did not immediately respond to a request for comment.

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.

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.

“We were recently informed of the allegations made against Frank Stronach,” Dave Niemiec said in an email Friday evening. “Magna has no knowledge of the investigation or the allegations made other than what has been reported in the media.”

Niemiec said the company would not comment further on the ongoing litigation.

In 2018, Frank sued his daughter, two grandchildren and former business partner Alon Ossip in Ontario Superior Court for over $500 million, claiming they mismanaged the family’s fortune and conspired to seize control of it.

Belinda Stronach, a former Canadian member of parliament, filed a countersuit against her father, saying in her defense statement that he lost enormous sums of money on pet projects.

The case was later settled.

Photo credit: AP

Photo credit: AP