Frank Stronach, auto components billionaire, arrested on sexual assault costs

admin
By admin
4 Min Read

Austrian-Canadian auto components billionaire Frank Stronach was arrested on sexual assault costs spanning a long time, police stated.

The 91-year-old was charged Friday with 5 crimes together with rape, indecent assault on a feminine, sexual assault and forcible confinement, Peel Regional Police stated. He was launched with situations and can seem on the Ontario Court docket of Justice in Brampton, Ontario, at a later date, the police assertion stated.

Peel Regional Police Constable Tyler Bell stated there may be a couple of accuser however declined to say what number of.

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

Police allege the sexual assaults occurred from the Eighties to as latest as 2023. Bell stated they’re interesting for folks to return ahead if they’ve info or have been victims.

Stronach didn’t instantly reply to a request for remark.

He has employed distinguished Canadian protection lawyer Brian Greenspan.

“Mr. Stronach categorically denies the allegations of impropriety which have been brought against him,” Greenspan stated in an e-mail. “He looks forward to the opportunity to fully respond to the charges and to maintain his legacy both as a philanthropist and as an icon of the Canadian business community.”

Stronach, born in Austria, turned one among Canada’s wealthiest folks by creating Magna in his storage in 1957 and constructing it into one of many world’s largest suppliers of auto components.

He additionally based The Stronach Group, an organization specializing in horse racing. He made a short foray into Austrian politics greater than a decade in the past and has been named to the Order of Canada, one of many nation’s highest honors.

A Magna spokesperson stated Stronach has had no affiliation with the corporate since relinquishing management in 2010.

“We have recently been made aware of the charges filed against Frank Stronach,” Dave Niemiec stated in an e-mail Friday night. “Magna has no knowledge of the investigation or the allegations that have been raised beyond what has been reported in the media.”

Niemiec stated the corporate wouldn’t remark additional on the continued authorized matter.

In 2018, Stronach sued his daughter, two grandchildren and former enterprise affiliate Alon Ossip for over $500 million in Ontario Superior Court docket alleging they mismanaged the household’s property which he needed to take again management of.

Belinda Stronach, a former Canadian Member of Parliament, countersued her father, saying in an announcement of protection that he misplaced huge sums of cash on pet tasks.

The case was later settled.

Subscribe to the CFO Every day e-newsletter to maintain up with the tendencies, points, and executives shaping company finance. Join free of charge.
Share This Article