Austrian-Canadian auto parts tycoon Frank Stronach has been arrested on charges of sexual assault that allegedly spanned decades, according to Peel Regional Police.
The 91-year-old billionaire faces five charges, including rape, indecent assault on a female, sexual assault, and forcible confinement.
He was released with conditions and is scheduled to appear at the Ontario Court of Justice in Brampton at a later date.
Police Constable Tyler Bell confirmed there is more than one accuser but did not specify the exact number.
The alleged assaults are said to have occurred from the 1980s up to 2023. Police are urging potential additional victims to come forward.
Stronach, who has not yet responded to requests for comment, has hired prominent Canadian defense attorney Brian Greenspan.
Greenspan stated that Stronach denies the allegations and is looking forward to fully responding to the charges.
Stronach, who founded Magna in his garage in 1957, grew the company into one of the world’s largest auto parts suppliers.
He also established The Stronach Group, known for its involvement in horse racing.
Despite his significant business achievements, Stronach has had no affiliation with Magna since 2010.
In addition to his business ventures, Stronach briefly entered Austrian politics and was honored with the Order of Canada.
He has been involved in legal disputes, including a high-profile case against his daughter and others over alleged mismanagement of family assets, which was settled in 2018.
