Billionaire Mogul Frank Stronach, 91, Arrested on Decades-Long Sexual Assault Charges

Austrian-Canadian auto parts billionaire Frank Stronach was arrested on sexual assault charges spanning decades, police announced.

The 91-year-old was charged Friday with five crimes, including rape, indecent assault on a female, sexual assault, and forcible confinement, according to Peel Regional Police. He was released with conditions and is scheduled to appear at the Ontario Court of Justice in Brampton, Ontario, at a later date, the police statement added.

Peel Regional Police Constable Tyler Bell confirmed there is more than one accuser but declined to specify the exact number.

“Obviously, this is a high-profile case. Our special victims unit is committed to protecting the victims, and in doing so, we are being intentionally vague,” Bell said. “There is more than one victim, but we won’t confirm that number yet.”

Police allege the sexual assaults occurred from the 1980s up to as recently as 2023. Bell stated that they are appealing for people to come forward if they have information or have been victims.

Stronach did not immediately respond to a request for comment.

Born in Austria, Stronach became one of Canada’s wealthiest individuals by founding Magna in his garage in 1957 and growing it into one of the world’s largest auto parts suppliers.

He also established The Stronach Group, a company focused on horse racing. Over a decade ago, he ventured briefly into Austrian politics and has been honored with the Order of Canada, one of the nation’s highest accolades.