Multiple Singapore agencies, including the police and the corporate regulator, are probing Anthony Thomas Price for alleged cheating and corporate law breaches after he used shell entities to secure three landed residential leases. In the latest dispute, a district judge threw out an injunction bid brought through Price's firm, Noranth Ventures, calling the maneuver an abuse of court process and granting the elderly owners repossession along with unpaid rent. Addressing parliamentary queries, Senior Minister of State for Law Murali Pillai announced that the state will maintain existing repossession processes to protect tenants facing legitimate hardships.
Key points
Regulators are assessing potential offences of fraudulent trading, wrongful trading, and…: Regulators are assessing potential offences of fraudulent trading, wrongful trading, and Companies Act violations tied to the involved corporate entities.
The government will not introduce automatic or expedited eviction frameworks, cautioning…: The government will not introduce automatic or expedited eviction frameworks, cautioning that swift procedures could undermine tenants with genuine legal disputes or hardships.
Landlords remain responsible for their own risk management and already possess the author…: Landlords remain responsible for their own risk management and already possess the authority to demand personal director guarantees for corporate residential leases.
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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.
“The official receiver is also investigating possible fraudulent trading and wrongful trading offences, and the Accounting and Corporate Regulatory Authority is also looking into potential breaches of the Companies Act by the relevant entities and individuals,” he said, adding he could not say more due to ongoing investigations.
Murali was responding to MPs who asked about stronger protection for landlords from tenants who stop paying rent and refuse to move out.
The Straits Times reported on Oct 12 that American Anthony Thomas Price, a director and shareholder of Noranth Ventures, had used the company and its wholly owned subsidiary Bundleluxe, to enter into separate agreements with different landlords between…
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