Federal police who investigated Sydney businessman for eight years allege he fraudulently concealed ownership of corporate entitiesThe founder of Rams Home Loans, John Kinghorn, has been charged over allegedly avoiding more than $30m in tax and could face up to a decade in jail if found guilty. Australian federal police allege the multimillionaire Sydney businessman fraudulently concealed his beneficial ownership and control of corporate entities. Kinghorn, who was handed a court attendance notice on 6 October, was due to appear in Sydney’s Downing Centre local court on Tuesday. He faces one count of dishonestly influencing a commonwealth public official and one count of defrauding the commonwealth. Financial crimes posed a threat to the economy and the tax system, he said.

Source: The Guardian October 31, 2017 01:08 UTC