Billionaire, 91, is arrested and charged with sexually assaulting multiple women

A 91-year-old billionaire was arrested on Friday for sexual assault charges that span multiple decades.

Frank Stronach, who once oversaw a sprawling auto-parts empire, was charged with five criminal offences, including rape, sexual assault, indecent assault on a female, and forcible confinement. 

The Peel Regional Police revealed that the alleged sexual assaults lasted from the 1980s to 2023.

The Austrian-Canadian businessman was arrested in the posh Toronto suburb of Aurora, before being released on conditions. 

According to a police statement, Stronach will appear at the Ontario Court of Justice in Brampton at a later date. 

The Peel Regional Police revealed that the alleged sexual assaults spanned the  1980s to 2023. 

Stronach with Carmen Stamboli at the Miss Vienna contest in 2014.  The Austrian-Canadian businessman was arrested in the posh Toronto suburb of Aurora

Stronach's defense attorney stated that the billionaire 'categorically denies' all of the allegations

Peel Regional Police Constable Tyler Bell confirmed that there were multiple accusers, but he declined to specify how large the number was.

'Obviously, this is a high-profile case. Our special victims unit is bound to protect the victims and in doing so that's why we're being vague,' Bell said.

'There is more than one victim but we won't confirm that number yet,' he added.

To head up his defense team, Stronach has tapped distinguished lawyer Brian Greenspan, whose previous notable clients included Naomi Campbell and Justin Bieber. 

In a statement, Greenspan said that the 91-year-old billionaire 'categorically denies' all of the allegations that have been brought against him. 

Greenspan continued: 'He looks forward to the opportunity to fully respond to the charges and to maintain his legacy as a philanthropist and as an icon of the Canadian business community.'

Born in Austria in 1932, Stronach grew up under Nazi rule before moving to Canada in the mid-50s.

In 1957, the entrepreneur launched Magna in his garage, and over the years, he built it into one of the world's biggest suppliers of auto parts.

In 1957, Stronach launched Magna in his garage, and over the years, he built it into one of the world's biggest suppliers of auto parts. Outside of business, he's dabbled in politics, forming the Austrian political party Team Stronach in 2013. Here Stronach is pictured at the final election campaign in Vienna

Stronach was named to the Order of Canada, one of the nation's most prestigious honors. Pictured here with Stronach is his wife, Elfriede, (far left) and daughter, Belinda, (middle)

Magna currently has a market capitalization of $12.52 billion.

The auto-parts giant issued a statement saying that they had 'no knowledge of the investigation or the allegations that have been raised beyond what has been reported in the media.'

They further noted that 'Stronach has had no affiliation with Magna since he relinquished control in 2010.'

Some of the entrepreneur's other business ventures included the creation of The Stronach Group, a company that specializes in horse racing. 

In 2013, the auto-parts tycoon returned to Austria, where he dabbled in politics by founding and leading a populist right-wing political party called Team Stronach for Austria. 

Two months later, Stronach moved back to Canada, where he named to the Order of Canada, one of the nation's most prestigious distinctions. 

Some of the entrepreneur's other business ventures included the creation of The Stronach Group, a company that specializes in horse racing

In 2018, the billionaire sued his daughter (pictured), two grandchildren, and former business associate Alon Ossip for over $500 million in Ontario Superior Court

In 2018, the billionaire sued his daughter, two grandchildren, and former business associate Alon Ossip for over $500 million in Ontario Superior Court. 

Stronach alleged that they had mismanaged the family's assets, of which he wished to regain control. 

Belinda Stronach, a former Canadian Member of Parliament and CEO of Magna, countersued her father, saying that he had lost an enormous amount of money on pet projects. 

The case was eventually settled.