Man under police probe for alleged cheating over use of shell companies to avoid rent

The questions follow a court ruling last month that found an American man had a “pattern” of using shell companies to live rent-free in residential properties. 

In a judgment dated and published on Oct 7, a company used by Mr Anthony Thomas Price was ordered to return a landed property in Kembangan to its landlords and pay unpaid rent and other sums. 

The judge also found that Mr Price had used shell companies to rent two other landed properties between 2019 and 2024. 

A court case involving a residential property in Kembangan was settled, while another involving a home in Siglap was still ongoing as of October.

Mr Pillai said companies can legitimately lease residential properties, such as to house employees posted to Singapore, and that the company — rather than its directors or shareholders — is generally liable for the rent.

But he said the law does not allow companies to be used as a cover for fraud or to let the individuals who set them up evade their responsibilities. 

Those involved may also be made personally liable for the company’s debts in cases of fraudulent or wrongful trading, he added.

This is a developing story. Check back for updates.