Paul Hogan Sells Malibu Mansion

Hogan's Malibu house (left) and the Byron Bay house at Possum Creek

Crocodile Dundee star Paul Hogan and wife Linda Koslowski have listed their magnificent Malibu property for sale for $US5.25M. 

 Although Hoge's later films were financial flops, he has made a fortune by parlaying his Dundee profits into a property empire valued at around $400M.

  Hogan and his film production partner John Cornell invested heavily in the NSW uber resort of Byron Bay building a beach side hotel and buying up plots of land in the hinterland.

Linda & Paul ( centre ) with business partners John Cornell and Delvene Delaney

His Possum Creek mansion and acres were reminiscent of the Malibu property. It was eventually sold to Hong Kong banker Duncan Mount who parceled up blocks and sold them on for a tidy fortune. Hoges was inducted into the 'hall of fame' at last month's G'Day USA in LA.

Meanwhile at the opening of last week's exhibition for fashion identity Vivian Chan Shaw, Hogan's first wife Noelene Hogan attended the party but remained silent on her ex-husband's life. Noelene and Paul divorced in 1981 and she received their Northern Beaches Sydney property which again was similar to the Malibu and Byron properties. Obviously Hoges likes the 'Southern Mansion' style home with a few hundred acres. Hogan keeps in regular touch with his grown-up sons and their families from the first marriage and they visit him and Koslowski's son Chance in the USA. left : Noelene Hogan with Claudia Chan Shaw last week.

Bad News for Crocofile Dundee's Paul Hogan

John Cornell, Linda Kozlowski, Paul Hogan & Delvene Delaney (c tSS)

He is estimated to have made a $150M fortune from the Crocodile Dundee films which he wrote and starred in but Paul Hogan is facing a serious battle with the Australian Taxation Office after it was revealed that a complicated series of financial transactions between 2002 and 2005 saw millions of dollars being channeled to Hogan from a number of tax havens.

During that period Hogan and wife Linda Kozlowski moved back to Australia and purchased a sumptuous harbourside mansion in Sydney's before selling up to move back to Los Angeles in early 2006. But the Australian Crime Commission is claiming that Hogan declared himself 'stateless' during the 3 year hiatus and as neither a resident of Australia or the USA paid no tax in either country while at the same time moving millions to various bank accounts from a company registered in the British Virgin Islands. The Commission claims that the company was a sham and owned by Hogan and his partner in his films, John 'Strop' Cornell.

When Hoges and Strop made the first film in 1986 it was financed by them and produced on a small budget but went on to become a huge box office hit raking in more than $500M worldwide. They both invested heavily in the northern NSW resort of Byron Bay and made tens of millions out of successful ventures there.

Hogan has been fighting in the High Court for 6 years to keep accountancy documents secret after 2 newspaper publishers-Rupert Murdoch's Nationwide News and the Fairfax Media took him to court . Today he lost that fight and was ordered to pay both companies costs which are estimated to be in the region of $15M.

In 2008, Hogan, who lives in the US and has said he paid Australia more tax than he could have, told the Tax Office to ''come and get me, you miserable bastards''. And now it looks like they will with the added weight of the Crime Commission. Hogan had claimed the documents were 'privileged'. The court decided otherwise which now means they can be used by the Crime Commission who have claimed that the actor has avoided paying tax for years.

This doesn't look good for Hoges. His friend Glen Wheatley, the rock band manager received a sentence of 30 months in 2007 for a similar series of financial moves involving $800,000. And even worse- it looks likely the US Inland Revenue will become involved.