In a shocking turn of events, Frank Stronach, the 91-year-old Austrian-Canadian auto parts billionaire, was arrested on sexual assault charges spanning several decades, according to Peel Regional Police. On Friday, Stronach was charged with multiple offenses, including rape, indecent assault on a female, sexual assault, and forcible confinement.

Although Constable Tyler Bell of the Peel Regional Police confirmed that there are multiple accusers, the exact number has not been disclosed, as the special victims unit aims to protect the identities of the victims. The alleged sexual assaults are said to have occurred from the 1980s up until as recent as 2023.

While Stronach has been released with conditions, he is expected to appear at the Ontario Court of Justice in Brampton, Ontario, at a later date, as stated by the police. As of now, Stronach's representation has not provided any immediate comments. However, it has been revealed that he has hired Brian Greenspan, a prominent Canadian defense lawyer, to handle his defense.

In an email statement, Greenspan expressed that Stronach "categorically denies the allegations of impropriety," asserting his client's commitment to fully respond to the charges. Greenspan emphasized that Stronach maintains his legacy as a philanthropist and an icon of the Canadian business community.

The renowned magnate is best known for founding Magna, a company that started in his garage in 1957 and grew into one of the world's largest suppliers of auto parts. Additionally, he established The Stronach Group, specializing in horse racing. Stronach briefly ventured into Austrian politics more than a decade ago and has even been honored with the Order of Canada, one of the country's highest distinctions.

However, it is important to note that Stronach has had no affiliation with Magna since he relinquished control in 2010, according to Dave Niemiec, a spokesperson for the company. Niemiec clarified that the company is not privy to the ongoing investigation or the details of the allegations beyond what has been reported in the media.

This is not the first legal battle for Frank Stronach, as in 2018, he filed a lawsuit against his daughter, two grandchildren, and former business associate Alon Ossip, seeking over $500 million in Ontario Superior Court. Stronach alleged that they mismanaged the family's assets, which he aimed to reclaim control of. In response, Belinda Stronach, a former Canadian Member of Parliament, countersued her father, claiming that he had lost substantial amounts of money on personal projects. The case was eventually settled.

As this high-profile case unfolds, Peel Regional Police is urging individuals with information or potential victims to come forward and provide additional details. The investigation continues, and the public awaits further updates on this significant development in the Canadian business community.