Police investigating case of man who used shell companies to rent landed homes
Singaporean authorities are investigating an American man who allegedly used shell companies to rent luxury landed homes while defaulting on rent payments. The suspect has reportedly used legal maneuvers to avoid eviction, prompting government officials to discuss potential legislative protections for landlords.
Why it matters
This case highlights vulnerabilities in property rental laws regarding corporate entities and the potential for exploitation by bad actors in the housing market.
American Anthony Thomas Price had used Noranth Ventures, a shell company, to rent this semi-detached house in Lengkong Dua in Kembangan for $7,500 a month. As at Nov 4, he has not vacated the premises despite a court order. SINGAPORE – The police are investigating the case of a man who used shell companies to rent three landed homes in Singapore at different times for him and his family to live in, Senior Minister of State for Law Murali Pillai said on Nov 4.
Murali told Parliament that the offence of cheating is punishable with a jail term of up to 10 years, and a fine or caning, or both.
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