Canadian billionaire arrested on sexual assault charges

Frank Stronach has been charged with sexual assault dating back to the 1980s (AP)

Austrian-Canadian car parts billionaire Frank Stronach has been arrested on sexual assault charges spanning decades, police said.

The 91-year-old was charged on Friday with five crimes including rape, indecent assault on a female, sexual assault and forcible confinement, Peel Regional Police said.