Magna International conducting 'targeted review' of records as more charges laid against founder Frank Stronach
Magna International Inc. says it is conducting a “targeted review” of its records as its founder, Frank Stronach, is facing additional sexual assault charges.
In a statement to CTV News on Thursday, the company revealed it initiated the review “in response to the Peel Police” and retained two external law firms to support the process.
So far, the review has uncovered one settlement involving a historical harassment allegation against the Canadian billionaire and Magna Entertainment Corp, which the company said has been publicly reported on.
“This review process is complicated with the passage of time (going back 40-50 years), but should relevant information be located, we will follow a strict protocol to respect the legal rights of all and cooperate with authorities,” Tracy Fuerst, the vice-president of corporate communications at Magna, said in a statement.
The company reiterated that the allegations against Stronach, who has had no affiliation with the Magna since relinquishing control in 2010 and stepping down as chairman in 2012, were “alarming” if proven true.
“We hold all, no matter their status inside or outside the company, to the highest standards and are steadfast in our commitment to fostering an environment where everyone feels respected, valued, and protected,” Fuerst said.
She added that the company would not be providing further comments out of respect for the criminal process and the privacy of the complainants.
The ongoing review was disclosed the same day as it was revealed that more sexual assault charges had been filed against Stronach.
The businessman is now facing a total of 18 charges.
Stronach, 92, previously faced 13 charges, including sexual assault and historical charges of rape and indecent assault. Those charges involved 10 complainants and stemmed from incidents that allegedly occurred between 1977 and 2024.
Court documents obtained by CTV News Toronto this week show that Stronach now faces five more charges involving three additional complainants.
The charges against Stronach have not been tested in court.
Stronach, who has been released on bail, was previously ordered to surrender his passport, notify police of any change of address, and avoid communication with the complainants.
In a statement previously released to the media, Stronach’s lawyer, Brian Greenspan, said his client “categorically denies” the allegations.
CTVNews.ca Top Stories
U.S. Justice Department brings criminal charges in Iranian murder-for-hire plan targeting Donald Trump
The U.S. Justice Department on Friday disclosed an Iranian murder-for-hire plot to kill Donald Trump, charging a man who said he had been tasked by a government official before this week's election with planning the assassination of the Republican president-elect.
Canada rent report: What landlords are asking tenants to pay
Average asking rents declined nationally on a year-over-year basis for the first time in more than three years in October, said a report out Thursday.
N.S. school 'deeply sorry' for asking service members not to wear uniforms at Remembrance Day ceremony
An elementary school in the Halifax area has backed away from a request that service members not wear uniforms to the school's Remembrance Day ceremony.
48,584 space heaters recalled in Canada after burn injury in U.S.
Health Canada has announced a recall for electric space heaters over potential fire and burn risks, a notice published Thursday reads.
Israeli soccer fans were attacked in Amsterdam. The violence was condemned as antisemitic
Israeli fans were assaulted after a soccer game in Amsterdam by hordes of young people apparently riled up by calls on social media to target Jewish people, Dutch authorities said Friday. Five people were treated at hospitals and dozens were arrested after the attacks, which were condemned as antisemitic by authorities in Amsterdam, Israel and across Europe.
'Big frustration': How a limited MAID window affects Alzheimer's patients
A move by Quebec to allow a person with a serious and incurable illness like Alzheimer's to request MAID months or years before their condition leaves them unable to consent has been met with praise, confusion and criticism.
Winnipeg teacher who faces voyeurism charge now accused of sexually assaulting former student
A Winnipeg teacher previously charged with voyeurism and a number of other offences has been charged with sexual assault and sexual exploitation of a former student.
Beyonce leads the 2025 Grammy noms, becoming the most nominated artist in the show's history
Welcome to Beyonce country. When it comes to the 2025 Grammy Award nominations, 'Cowboy Carter' rules the nation.
107-year-old temperature record among dozens broken across Canada
Canadians are experiencing a wave of warm weather across multiple provinces well into the fall season, shattering dozens of temperature records.