A jury in Toronto found Austro-Canadian billionaire Frank Stronach guilty of sexual assault on Friday.
The 93-year-old founder of Magna International, one of the world’s largest auto parts suppliers, had pleaded not guilty to charges that dated back as far as 1977.
Stronach faced five sex-related charges, and was ultimately found guilty of two of them — indecent assault and sexual assault.
He was acquitted of three charges after the court deemed the complainant’s testimony not credible.
Seven other charges were also dropped by the prosecutor during the trial for lack of evidence.
Canada has no statute of limitations on sex-related charges.
Over the course of the trial, seven complainants testified against Stronach.
He will be sentenced on Sept. 17, but will remain free until then, having posted bail upon his arrest in 2024.
He faces another case in Newmarket, near Toronto, in 2027, in which six additional complainants are expected to testify about alleged sexual assaults.
Stronach was born in Austria but moved to Canada in 1954. He expanded Magna International from a small tooling company into one of the world’s largest manufacturers of automotive parts.
He handed over control of the company in 2011 before entering politics in his native Austria during 2013 legislative elections.
The party he founded, Team Stronach, was dissolved a few years later due to lack of support.
