Paul Hogan, best known for his role as Crocodile Dundee and as a celebrity pitchman, says the Australian goverment's five-year probe into his tax affairs damaged his reputation and resulted in a loss of income. (Daniel Munoz/Reuters) Crocodile Dundee star Paul Hogan, after having been the focus of tax officials for five years, is ready to turn the spotlight onto the Australian government with a lawsuit over its failed criminal investigation into his tax affairs.

In interviews and according to his lawyer, Andrew Robinson, the actor and celebrity pitchman is preparing a lawsuit against the federal government for allegedly skewering his reputation and causing a loss of income.

In November, the Australian Crime Commission announced it had dropped its lengthy and highly publicized tax investigation of Hogan for multiple reasons, including "insufficiant prospects of securing convictions."

Hogan, who was targeted in the probe along with colleague John Cornell and financial adviser Tony Stewart, has demanded an apology from the commission for being "publicly branded a criminal, a fraud, a money launderer and tax evader."

The 71-year-old could seek as much as $80 million for loss of earnings during Australia's five-year Operation Wickenby probe, tasked with investigating high-profile citizens allegedly evading their taxes.

"His earning potential and reputation has been decimated in the international community and it has had that level of effect on his position," Robinson told Australian media.

Robinson added that two film industry figures are ready to testify that Hogan lost a potential $10 million to $15 million a year during the investigation.

'Brad Pitt of advertising'

"In the film world, they're not knocking the door down saying, who do we get: him or Brad Pitt?" Hogan admitted in an interview with Australia's Herald Sun newspaper.

"But in the world of advertising, I am Brad Pitt. I have a track record that's second to none...companies have been willing to give me an arm and a leg," he said.

"Well they were until about five years ago."

At one point last year, the Los Angeles-based Hogan returned to Sydney for his mother's funeral. He was briefly barred from leaving afterwards, when Australian officials issued a departure-prohibition order.

Hogan told the Herald Sun he is looking "to see heads roll" with his lawsuit.

"As they haven't been decent with me, I'm not going to be decent with them."

With files from The Associated Press