Billionaire Frank Stronach charged with 8 more criminal counts

As college students studying business ethics, this case presents us with a valuable opportunity to reflect on the importance of integrity and transparency in our future careers. It underscores the need for us to always act ethically and responsibly in our professional endeavors, even when faced with challenging situations or temptations.

Frank Stronach's legal troubles serve as a cautionary tale for all individuals involved in business. It is imperative that we prioritize ethical behavior and compliance with laws and regulations to ensure long-term success and sustainability in our careers. Let this case be a lesson for us all to uphold high standards of integrity and

Peel Regional Police said the 91-year-old founder of auto parts giant Magna was arrested again and charged with six counts of sexual assault, one count of attempted rape and one count of indecent assault on a female.

They did not provide any details of those allegations but said investigators “have identified additional victims.”

Stronach was first arrested in early June and charged with one count of rape, one count of indecent assault on a female, one count of forcible confinement and two counts of sexual assault.

Stronach, 91, founded the company that became Magna International in the 1950s. It became one of the world’s largest auto-parts makers, and today employs 179,000 people in 28 countries.

He departed Magna 14 years ago and has “had no affiliation” with it since, company spokesperson Tracy Fuerst has said. Forbes magazine in 2018 estimated Mr. Stronach’s wealth at US$1.5-billion, but no longer includes him in its rankings.

Magna in 1988 — but kept control of the firm — to run as a Liberal candidate in the federal election.

He lost the election and returned to Magna.

In 1997, he was paid as much as the bosses of all the big three automakers — General Motors, Ford and Chrysler — combined and said he deserved it because he was smarter and worked harder than all of them.

On those prior charges, Greenspan has previously said Stronach "categorically denies the allegations of impropriety which have been brought against him. He looks 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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Sarah H

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