Police west of Toronto have laid five charges against Canadian businessman and billionaire Frank Stronach as part of a sexual assault investigation.
Peel Regional Police confirmed to Global News that the 91-year-old man currently facing charges is the founder and former CEO of auto parts manufacturing giant Magna International.
In a statement released Friday evening, police said he was charged with rape, indecent assault of a woman, false imprisonment and two counts of sexual assault.
The alleged incidents occurred between an unspecified period in the 1980s and 2023, police said, noting that the charges were laid on Friday. He was released on conditions and is scheduled to appear at the Brampton, Ontario courthouse on an undetermined date.
The Canadian Press made several attempts to contact Stronach. A lawyer who previously represented him in an unrelated matter declined to comment on the investigation.
A Magna spokeswoman said she was aware of the accusations against Stronach, but added that he had no affiliation with the company he founded since he relinquished control in 2010.
“We were recently informed of the charges against Frank Stronach,” Tracy Fuerst said in an email sent Friday evening. Magna has no knowledge of the investigation or the allegations that have been raised beyond what has been reported in the media. »
Tracy Fuerst said the company would provide no further comment on the ongoing legal matter.
Stronach, born in Austria, became one of Canada’s richest people by starting Magna in his garage in 1957 and growing it into one of the world’s largest suppliers of auto parts.
He also founded The Stronach Group, a horse racing company.