Police investigating case of man who used shell companies to rent landed homes
The police are looking into alleged cheating, and possible fraudulent trading and wrongful trading offences.
Police are investigating a man who allegedly used shell companies to rent landed homes in Singapore, according to Senior Minister of State for Law Murali Pillai who spoke in Parliament on November 4. The alleged criminal, Anthony Thomas Price, a director of Noranth Ventures, rented three properties from 2019 to 2026 using his companies.
Price stopped paying rent to avoid eviction and his landlords have been battling him in court over the property he still occupies. Price allegedly failed to vacate the property he rented most recently, despite being legally required to do so. The official receiver is looking into fraudulent trading and wrongful trading offences, while the Accounting and Corporate Regulatory Authority is investigating potential breaches of the Companies Act.
Murali noted that it would be unfair to automatically repossess a property when rent is unpaid, as some tenants may face genuine hardship. He also said that many companies lease residential properties for legitimate reasons, and making personal guarantees mandatory for corporate tenancies could be restrictive.
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