The founder of RAMS Home Loans, John Kinghorn, 76, has been charged with fraud offences after allegedly avoiding taxes worth more than $30 million.

Mr Kinghorn did not enter a plea as he faced Sydney’s Downing Centre Court this morning.

The Australian Federal Police (AFP) alleges he fraudulently concealed his beneficial ownership of two companies from the tax office between 2004 and 2007.

He has been charged with dishonestly influencing a Commonwealth public official and defrauding the Commonwealth, after an eight-year investigation.

The maximum penalty for the offences is 10 years’ imprisonment.

‘This result should serve as a warning’

AFP Assistant Commissioner Neil Gaughan said investigators had worked with international agencies.

“I’d like to commend the officers involved in this complex and lengthy investigation for their persistence and dedication to ensuring the integrity of Australia’s financial frameworks,” he said.

“Commonwealth fraud offences have a significant impact on the Australian public — every dollar represents funds that could have been put to use for the benefit of the whole community.

“This result should serve as a warning that we will use every capability at our disposal to bring allegations of fraud before court.”