A New Zealand man has been charged over a banking scam in Australia.

The bank executive was believed to have been on the run in the United States after fleeing from Sydney.

However, the Australian reports he handed himself into police yesterday.

The 44-year-old has been charged with seven counts of corruptly receiving a benefit and was granted bail.

His alleged accomplice Keith Hunter appeared in court last week where he pleaded not guilty to two counts of bribery.

They're accused of granting a US-based IT company a lucrative Commonwealth Bank contract without putting it to public tender.

It's believed the pair received millions of dollars in kickbacks.