Frank Stronach’s granddaughter seeks company docs related to misconduct allegations

The granddaughter of billionaire businessman Frank Stronach is asking an Ontario tribunal to bid nan family business to disclose immoderate documents that mightiness beryllium related to complaints of intersexual misconduct against him and settlements involving complainants.

In a caller tribunal filing, Selena Stronach argues media sum of nan intersexual battle allegations against her grandfather propose it is apt nan alleged misconduct “occurred successful nan firm situation and included nan misuse of firm assets.”

The filing is nan latest successful an ongoing ineligible conflict complete nan guidance of The Stronach Group’s and nan family’s wealth.

A suit launched by Selena Stronach successful 2019 alleges her aunt, Belinda Stronach — Frank Stronach’s girl and nan company’s chairwoman, main executive serviceman and president — and others person mismanaged nan trusts holding nan family’s assets for their ain benefit.

A spokesperson for The Stronach Group sent a connection connected behalf of Belinda Stronach connected Wednesday, saying she would reason nan mobility and that nan “basis of nan guidance will beryllium presented to nan court.”

The connection besides addressed nan allegations against her father, calling them “deeply disturbing” but declining to remark further owed to nan tribunal case.

The institution issued a connection past period acknowledging nan charges against Frank Stronach and noting he has “not held a general domiciled aliases been progressive pinch institution operations successful immoderate capacity for respective years.”

The Stronach Group said astatine nan clip it would not remark further connected nan criminal allegations, citing nan tribunal case.

Frank Stronach was first charged past period pinch 5 sex-related offences involving 3 complainants, soon followed by different 8 charges involving 7 complainants.

Court documents show nan charges see rape, attempted rape, indecent assault, forcible confinement and intersexual assault, and subordinate to alleged incidents making love arsenic acold backmost arsenic 1977 and arsenic precocious arsenic this year.

Stronach’s lawyer, Brian Greenspan, has said that his customer denies each allegations against him and plans to “vigorously” take sides his reputation.

The criminal lawsuit is owed to return earlier a Brampton, Ont., tribunal successful early October.

Stronach, 91, became 1 of Canada’s wealthiest group arsenic nan laminitis of car parts elephantine Magna, a institution he started successful his car shed successful 1957.

He besides founded The Stronach Group, a institution that specializes successful equine racing, and founded Stronach International successful 2018, a institution focusing connected integrated foods and “micro-electric mobility.”

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Stronach resigned arsenic Magna’s president successful 2011 and founded his ain governmental statement successful his location state of Austria nan twelvemonth after.

The suit launched by Selena Stronach says Frank Stronach  took a measurement backmost from nan Stronach Group successful 2013 successful bid to tally for agency successful Austria.

His girl became much progressive successful nan guidance of nan business arsenic a result, and was made a trustee for each aliases astir of nan trusts that “serve arsenic superior vehicles” for holding nan family’s assets and distributing wealthiness to relatives, it says.

“For years, nan defendants person ignored and breached many times their fiduciary obligations and person managed and distributed assets without immoderate information for Selena, notwithstanding her beneficial interests successful nan trusts,” nan suit alleges.

A connection of defence denies Selena Stronach has been mistreated aliases kept successful nan acheronian astir nan family’s finances.

“Selena’s various allegations of mismanagement of TSG, misuse of funds, deficiency of accusation and breach of fiduciary duties are without foundation,” it says.

The announcement of mobility from Selena Stronach says that nan company’s connection aft nan intersexual battle allegations against her grandfather emerged successful early June “did not contradict anterior knowledge of allegations” against him.

“Given nan absence of a denial from TSG, it is apt that records beryllium which uncover a shape of misconduct by Mr. Stronach that includes firm knowledge and, potentially, facilitation and coverup.”

The allegations person not yet been tested successful court. A proceeding connected nan disclosure mobility is group for early adjacent month.