RAMS Home Loans founder accused of $30m tax fraud

The man who founded RAMS Home Loans has been nabbed following an eight-year investigation into major fraud.

John Kinghorn could face up to a decade behind bars if found guilty of Commonwealth fraud offences.

It’s alleged 76-year-old Sydney businessman avoided tax payments in excess of $30m and fraudulently concealed his beneficial ownership and control of corporate entities.


He is due to appear in the Downing Centre Local Court in Sydney today.

“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,” AFP Assistant Commissioner Neil Gaughan said.

“Serious financial crime poses a threat to Australia’s economy, financial markets, regulatory frameworks, superannuation and tax system,” Mr Gaughan added.