The Crocodile Dundee actor, Paul Hogan once lost $34 million dollars that almost took his freedom. He lost the money in one of Australia’s largest tax evasion schemes. The person who paid the deadly price for this lost was his accountant Phillip Egglishaw, who was thrown behind bars. The truth was his trusted accountant duped Hogan.
Egglishaw was a notorious schemer who had helped many people evade taxes through different means. The case was a complicated one because the bank that Egglishaw’s Swiss accountancy firm, Strachans used was Corna Banca that has pushed Hogan’s $34 million into the Carthage Trust fund. The fund was managed by Grasselle. Unfortunately, Grassele was both a nominal owner of the Corna Banca account and a sub-trust of Carthage Trust that was owned by Strachans.
To hide Hogan’s real identity, the fund was renamed the “British Red Cross.” Things went weird when Egglishaw refused to show Hogan his bank statements.
Egglishaw spent all of Hogan’s $34 million and things got out of hand. Though, Hogan was cleared of a crime but he suffered an untold loss. Egglishaw paid for his crime when he was caught but Hogan lost his hard earned money.