WARMINGTON: Canadian business tycoon accused of serious sex crimes

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It may have begun as a regular Friday for Frank Stronach, a day in which he had lunch with associates, talking about his projects and looking to the future.

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However, it ended as anything but a regular day for the Canadian business legend.

Peel Regional Police announced Friday evening that the 91-year-old has been charged with serious criminal sex offences dating back decades and allegedly occurring as recently as last year.

The news stunned those close to the billionaire business tycoon, quickly spreading across the country and throughout the United States where he still does business.

“On June 7, 2024, Frank Stronach was arrested and charged with five criminal offences, rape, indecent assault on a female, sexual assault x2 and forcible confinement,” police said in a statement.

Stronach was charged but not taken into custody. The former Chair of Magna International was released on a promise to appear in court.

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The investigation is ongoing.

Police claim the alleged crimes spanned from the 1980s to as recent as 2023 and they are “appealing to members of the public to come forward if they have any relevant information.”

If he knew he was being investigated, he did not reveal it to people close to him.

“I had no idea,” one associate, who was at lunch with Stronach Friday, told the Toronto Sun.

Another person working with him said he was just talking business with Stronach and there was no mention of any concerns about a police investigation.

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However, police sources claim Stronach was aware for several months there had been complaints from “multiple” women and that an investigation was underway.

The Sun has also learned that after his lunch on Friday, Stronach travelled to Peel’s Special Victim’s Unit office with his retained counsel and voluntarily surrendered.

Stronach was arrested without incident, formally charged, and was “cordial” in his dealings with officers.

He then left with his counsel.

Reached by phone Friday night, lawyer Brian Greenspan confirmed he is representing Stronach.

“Mr. Stronach categorically denies the allegations of impropriety which have been brought against him,” Greenspan said. “He is looking 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.”

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“It’s obviously upsetting but he’s fine,” he said, adding Stronach is “strong minded.”

Stronach is considered innocent until proven guilty and these charges have not been tested in court.

 A date for his first court appearance has not yet been made public. There is not believed have been any restrictions put on him while he awaits his day in court.

Aside from being known as the founder of Magna International, Stronach is also iconic in the horse racing industry.

The nine-time Sovereign Award winner has owned dozens of champion race horses over many decades and he owns several racetracks through the Stronach Group, including Pimlico Race Course, in Baltimore, Maryland, and Santa Anita Park in Arcadia, California.

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In recent times, Stronach has been focused on investing in small business ventures as well as his organic restaurant in Aurora, where he often meets business associates – similar to what he did for decades at the Magna golf course.

Many people are excited about his upcoming projects, including his development of a three-wheeled, electric micro car.

jwarmington@postmedia.com

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