RAMS Home Loans founder John Kinghorn has been charged over an alleged $30 million tax fraud

Peter Parks/AFP/Getty Images

John Kinghorn, 76, the founder of RAMS Home Loans, has been charged with allegedly avoiding taxes of more than $30 million.

The Australian Federal Police allege he concealed his beneficial ownership and control of corporate entities.

The AFP says its investigation, which started in June 2009, required extensive cooperation within the Serious Financial Crime Taskforce and with international agencies.

Kinghorn was due to appear in the Downing Centre Local Court in Sydney today charged with one count of dishonestly influencing a public official and one count of defrauding the Commonwealth.

The maximum penalty for these offences is up to 10 years in jail.

The Serious Financial Crime Taskforce is a multi-agency effort targeting serious financial crime in Australia.

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