TORONTO — Frank Stronach, an Austrian-Canadian billionaire, was found guilty on June 19, 2026, of one count of sexual assault and one count of indecent assault in Toronto. The Ontario Superior Court trial was presided over by Justice Anne Molloy, beginning in February 2026 and concluding in April 2026.

Law enforcement arrested and charged Stronach in 2024 in connection with alleged sexual incidents. He pleaded not guilty to 12 criminal charges brought by seven complainants, though he did not testify during the trial.

Justice Molloy found Stronach not guilty of other charges, including attempted rape and rape. Attorney Leora Shemesh stated, "We are extremely happy that other serious charges, rape and more counts of sexual assault, he had been facing were dismissed."

The sexual assault conviction is related to a 1980s incident that occurred at Stronach's Toronto condominium and involved a former restaurant server he owned. The indecent assault conviction is connected to a 1977 incident at his apartment involving a 25-year-old social acquaintance. Justice Molloy described some of Stronach's conduct in her written judgment as gross and disgusting.

Stronach, who is 93 years old, founded the auto parts company Magna International in 1957. In 2010, Magna provided him with approximately $1 billion to cede corporate control. He also founded The Stronach Group, an organization specializing in horse racing. Stronach will face an additional sexual assault trial scheduled for 2027, and his sentencing for the current convictions will occur at a later date.