Frank Stronach, the 91-year-old billionaire founder of one of the world's largest auto parts companies, was arrested and charged Friday in connection with a sexual assault investigation.
Police in Peel Region, outside Toronto, said in a brief news release that Stronach's alleged crimes range from the 1980s through to last year.
Stronach, the Austrian-born founder of Magna International, was charged with indecent assault, sexual assault and forcible confinement. He was released after being charged and is due to appear in court in Brampton, Ontario, at a later date.
Stronach's lawyer, Brian Greenspan, said his client “categorically denies the allegations of wrongdoing that have been brought against him.”
“He looks forward to the opportunity to respond fully to the allegations and to uphold his legacy as a philanthropist and an icon of Canadian business,” he added.
Mr. Stronach built the machine shop he founded in 1957 into a global company. Under his management, Magna, which also assembles cars for Mercedes-Benz and other automakers, tried to buy both Chrysler and Opel, the European unit of General Motors Co.
Magna investors have often resented Mr. Stronach for exercising control over the company through special classes of stock and for getting it involved in a variety of sometimes unprofitable ventures unrelated to making auto parts, including a failed restaurant chain, a luxury business magazine, golf courses and horse racing. In 2010, Magna paid Mr. Stronach about $1 billion to take over the company.
The Stronach Group, founded by Stronach and now run by his daughter Belinda Stronach, owns or manages horse racing tracks across the United States.
In 2013, Team Stronach, a pro-business protest party he founded, won two seats in the Austrian state parliament.
Magna spokeswoman Tracy Furst said in a statement that the company “has no knowledge of any investigation or allegations that have been made beyond what has been reported in the media.”
The Stronach Group did not respond to a request for comment.
It was unclear why charges were filed in Peel, which is part of the Greater Toronto Area. Stronach lives in York, which is also in the Toronto area and where Magna is headquartered. Police spokesman Constable Tyler Bell declined to comment on the investigation.
Mr. Stronach led Magna and was at one time Canada's highest-paid executive, but he frequently made unorthodox economic and political statements and comments that some found inappropriate. Rather than talking about the Chrysler acquisition, he opened the 2007 annual meeting by asking shareholders whether women found him or his longtime aide, Manfred Gingle, more attractive.
Stronach is the second Canadian billionaire to be charged with sex crimes in just over a week. Montreal police have filed 21 sex-related charges, including sexual exploitation of a minor, against Robert G. Miller, founder of Future Electronics. Police say Miller paid several girls for sex.
