Billionaire Frank Stronach Faces Additional Sexual Assault Charges Amid Ongoing Legal Battles

Billionaire Frank Stronach Faces Additional Sexual Assault Charges Amid Ongoing Legal Battles

Austrian-Canadian billionaire Frank Stronach faces eight new sexual assault charges. The 91-year-old auto parts magnate denies allegations and plans to defend vigorously.

Toronto, Bollywood Fever: Austrian-Canadian auto parts billionaire Frank Stronach was arrested again on Wednesday, facing additional sexual assault charges. Peel Regional Police Constable Tyler Bell-Morena confirmed that investigators have identified additional victims, leading to eight new charges, including six counts of sexual assault.

Earlier this month, Stronach, 91, was arrested and accused of sexually assaulting three different complainants in incidents that allegedly took place in Toronto and Aurora, Ontario. These incidents reportedly occurred in 1980, 1986, and last year.

Billionaire Frank Stronach Faces Additional Sexual Assault Charges Amid Ongoing Legal Battles

Details on the additional charges remain limited. Stronach’s lawyer, Brian Greenspan, stated in an email, “Mr. Stronach denies and will vigorously defend these further untested allegations dating back to 1977. He has spent his lifetime committed to the betterment of the Canadian community and industry.”

Born in Austria, Stronach became one of Canada’s wealthiest individuals by founding Magna in his garage in 1957, building it into one of the world’s largest auto parts suppliers. He also founded The Stronach Group, specializing in horse racing. Stronach briefly ventured into Austrian politics over a decade ago and has been honored with the Order of Canada, one of the nation’s highest distinctions.

According to Magna, Stronach has had no affiliation with the company since relinquishing control in 2010.

In 2018, Stronach sued his daughter, two grandchildren, and former business associate Alon Ossip for over $500 million in Ontario Superior Court, alleging mismanagement of the family’s assets, which he sought to regain control of. Belinda Stronach, a former Canadian Member of Parliament, countersued her father, claiming he lost substantial sums on personal projects. The case was eventually settled.

As the legal proceedings continue, Stronach’s case underscores the complexities and challenges faced by public figures in maintaining their legacies amidst serious allegations.

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