Verdict
Austrian-Canadian billionaire and automotive business founder Frank Stronach was found guilty on Friday of sexual assault and indecent assault against two women. The verdict was delivered by Ontario Superior Court Justice Anne Molloy.
Charges
Stronach, aged 93, faced 12 charges related to alleged incidents involving seven complainants. He pleaded not guilty to all charges. During the trial, which began in February, prosecutors withdrew one charge and agreed that Stronach should be found not guilty on four others. The guilty verdict applies to the two remaining charges.
Background
Stronach built auto parts company Magna from his garage in 1957, becoming one of Canada's wealthiest individuals. He also founded The Stronach Group, a horse racing firm. He resigned as Magna's chairman in 2011 and started a political party in his native Austria in 2012.