Political Connections
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The firm is also known for its political connections, such as having former Premiers of Ontario on its board, as well as connections with numerous other former politicians. Some politicians who have had notable positions with Magna include Mike Harris and Brian Tobin, retired Premiers of Ontario and Newfoundland Labrador, respectively, and the latter also a once prominent federal minister of Fisheries and Oceans. In 1988, Frank Stronach ran as a candidate for parliament for the federal Liberal Party, but was defeated.
Magna International has also been noted for its connections to the Ontario Progressive Conservative Party and the Ontario Liberal Party. In 2003, the Progressive Conservatives under Ernie Eves presented the provincial budget at a Magna plant leading to accusations that the government was violating centuries of parliamentary tradition. It is believed that this decision had a negative impact on the Progressive Conservatives in the next provincial election.
In 2010, Spanish National Court Prosecutor Jose "Pepe" Grinda Gonzalez alleged that elements within the Russian Mafia had acquired a significant share in Magna International
Read more about this topic: Magna International
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