News
Frank Stronach · Legal Verdict · Magna International · Sexual Assault
Austrian-Canadian billionaire Frank Stronach, 93, founder of auto parts giant Magna International and The Stronach Group, was found guilty Friday, June 19, 2026, of sexual assault and indecent assault involving two women from decades ago, following a trial where he pleaded not guilty to 12 charges.
Superior Court Justice Anne Molloy deemed the two complainants credible witnesses, believing their accounts. Stronach's lawyer, Leora Shemesh, stated they were satisfied he was found not guilty on most charges, emphasizing the "least serious offenses" and that "no one had their clothes off." Shemesh also called Stronach a "national treasure." Stronach established Magna in 1957 and resigned as chairman in 2011.
He faces a sentencing hearing in September and a separate trial on similar charges in Newmarket, Ontario, in May.
