Crocodile Dundee Missing $34M: Actor Paul Hogan Goes After Tax Adviser

Image: Crocodile Dundee Missing $34M: Actor Paul Hogan Goes After Tax Adviser Australian actor Paul "Crocodile Dundee" Hogan.

Wednesday, 17 Apr 2013 07:58 AM

By Alexandra Ward

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"Crocodile Dundee" star Paul Hogan has taken legal action in the United States to recover his missing $34 million, which he claims was stolen from him.

Hogan, the 73-year-old Australian actor who rose to fame with the 1986 film "Crocodile Dundee," has filed suit in a California district court, alleging that his former tax adviser Philip Egglishaw either "absconded with or spent all" of his millions, according to the Sydney Morning Herald.

Hogan believes the $34 million was held in a Swiss bank account at the Corner Bank in Lausanne, run by the Geneva firm Strachans, which was retained to arrange a series of offshore trusts dealing with Hogan's lucrative "Crocodile Dundee" earnings, the Herald said. Egglishaw was reportedly a partner at the firm.

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"The actions of Egglishaw have now crossed the boundary of legality, and he is now engaging in criminal fraud, theft, and breach of fiduciary duty, and you are now directly aiding and abetting his criminal actions," read a letter from Hogan's attorney to Egglishaw's. "[Hogan] is not going to stand idly by in the face of this theft, and he is going to take every step possible in every country possible to hold Egglishaw, Strachans, you, and your firm liable and brought to account."

Philip de Figueiredo, Egglishaw's partner at Strachans, is serving two and a half years in prison after pleading guilty last month in the Queensland Supreme Court to three counts of conspiring to defraud the Australian government of more than $4 million in tax.

Last year, Hogan settled an eight-year dispute with the Australian Tax Office, which was after him for more than $150 million in unpaid taxes, penalties, and interest dating back to the 1980s. The terms of the settlement remain confidential.

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As Hogan's former tax adviser, Egglishaw was reportedly the mastermind behind the tax evasion scheme. An arrest warrant has been issued against him in the case.

Related stories:

US Asks Liechtenstein for Data in Tax Evasion Probe

Treasury Releases Final Rules on Offshore Tax Evasion as Enforcement Looms

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