Austrian-Canadian Business Magnate Found Guilty of Historic Assault Charges
Frank Stronach, the 93-year-old billionaire known for his role in the automotive industry, was convicted on Friday for sexual and indecent assault against two women dating back decades. The charges were confirmed by the Superior Court in Toronto.
Stronach, who initially faced accusations from seven individuals and denied all 12 charges, saw his case presided over by Justice Anne Molloy. She affirmed the credibility of the two women whose allegations led to the guilty verdicts, underscoring their detailed and reliable testimonies.
Following the court’s decision, Stronach’s legal representative expressed satisfaction that the majority of charges were dismissed, stating, “Mr. Stronach has been found guilty on the least serious offenses for two complainants who were not exposed in any way, he was not exposed … no one had their clothes off,” according to lawyer Leora Shemesh.
Despite these convictions, Shemesh still regards her client as a figure of significant national importance, describing him as “a national treasure.”
Frank Stronach’s rise to wealth began with the founding of Magna, a major auto parts company, in 1957. His ventures also extended into horse racing with the establishment of The Stronach Group. Stronach retired as Magna’s chairman in 2011 and later ventured into politics by launching a party in Austria in 2012.
The trial, which initiated in February and concluded arguments by April, had seen the prosecution dismiss one charge and concede not guilty verdicts on four others. The offenses for which Stronach was convicted took place between the late 1970s and 1990s.
A sentencing date has been arranged for September. Additionally, Stronach is expected to face a separate trial in Newmarket, Ontario, on similar allegations in May.
