October 4, 2024: Billionaire businessman Frank Stronach is now facing additional sexual assault charges, as three more individuals have come forward with allegations dating back to the 1980s and 1990s. According to court documents, these new charges increase the number of accusers in his case to 13.
Stronach, 92, was initially charged in early June with five sex-related offences involving three complainants. In the following weeks, Peel Regional Police filed more charges as additional allegations surfaced. The offences are said to have occurred between 1977 and as recently as February this year.
Documents from a Brampton, Ontario courthouse reveal that Stronach is now facing a total of 18 charges, including sexual assault and indecent assault, with incidents alleged to have taken place in both Toronto and Gormley, Ontario, a small community north of the city.
Stronach is scheduled to appear in court on October 7. Stronach’s current lawyer, Leora Shemesh, has yet to comment on the new charges.
Stronach built his fortune by founding Magna, a major auto parts manufacturer, in 1957. He later expanded his business interests into horse racing with The Stronach Group and launched Stronach International in 2018, focusing on organic foods and micro-electric mobility. He stepped down as Magna’s chairman in 2011 and briefly entered politics, founding his own party in Austria.
Magna International Inc. announced it has begun reviewing its historical records in light of the charges against Stronach. A company spokesperson confirmed that an internal investigation is underway, though Magna itself is not facing any legal action. So far, only one past settlement regarding a harassment claim involving Stronach has been identified.
Stronach continues to assert his innocence as the legal case unfolds.
