Paul Hogan vows to "take every step possible in every country possible" to hold his once trusted financial adviser accountable for his lost millions. The Crocodile Dundee star is going after Philip Egglishaw for allegedly running off with his riches.

An international warrant of arrest has been issued for Egglishaw for allegedly absconding with the 73-year-old actor's US$34 million (or approximately A$32.40 million). The amount was held in a Swiss bank account for the Carthage Trust, and was run by the Geneva financial services firm Strachans for almost two decades.

Strachans is the company Hogan hired to arrange offshore trusts and other financial arrangements to deal with his money. The Australian clients of the financial services company had been named in the Australian Taxation Office's $430 million Wickenby tax probe, which it launched in 2004.

Egglishaw is believed to be the mastermind behind the tax evasion plot.

The tax adviser allegedly have "absconded with or spent all" of the actor's millions, according to the legal documents filed by Hogan's lawyer Schuyler Moore in California District Court.

"The actions of Egglishaw have now crossed the boundary of legality, and he is now engaging in criminal fraud, theft, and breach of fiduciary duty, and you are now directly aiding and abetting his criminal actions," Moore wrote in an email to Paul Gully-Hart, Egglishaw's lawyer in Geneva, and which was obtained by the Sydney Morning Herald.

"The Carthage Trust's beneficiary [Hogan] is not going to stand idly by in the face of this theft, and he is going to take every step possible in every country possible to hold Egglishaw, Strachans, you, and our firm liable and brought to account."

This is the latest in the series of tax troubles for the Golden Globe winner. He had settled his case with the ATO only in 2012. The government agency chased the star and his artistic collaborator, John Cornell, over $150 million in unpaid taxes and penalties for eight years.