A Canadian court has found Austrian-Canadian billionaire and auto industry pioneer Frank Stronach guilty of sexual assault and indecent assault involving two women, marking a significant development in a high-profile case that has drawn national attention.
The 93-year-old businessman, founder of automotive parts giant Magna and horse racing company The Stronach Group, had pleaded not guilty to 12 charges stemming from allegations made by seven complainants. The accusations involved incidents alleged to have occurred between the late 1970s and the 1990s.
Superior Court Justice Anne Molloy ruled that two of the complainants provided credible and reliable testimony, stating that their accounts of the alleged incidents were believable despite the passage of time.
While Stronach was convicted on two charges, he was acquitted of most of the allegations brought against him. During the trial, prosecutors withdrew one charge and agreed that he should be found not guilty on four others before the court delivered its final verdict.
Following the ruling, Stronach’s lawyer, Leora Shemesh, said the legal team would carefully review the decision. She noted that her client had been acquitted on the majority of the charges and emphasized that the convictions involved what she described as less serious offenses.
Stronach built one of Canada’s most successful business empires after founding Magna International in a garage in 1957. He later became one of the country’s wealthiest entrepreneurs and expanded his influence into horse racing through The Stronach Group. He stepped down as Magna’s chairman in 2011 and subsequently launched a political party in his native Austria.
A sentencing hearing has been scheduled for September. Stronach is also facing a separate criminal trial involving similar allegations in Newmarket, Ontario, which is expected to begin in May.
