Story perspectives

Real Estate Director Faces Liquidation Amid $16M Investigation

3/2/2026

Summary

Story summary

Rickhil Prakash, Hills Real Estate director, is under Inland Revenue Department (IRD) investigation, triggering liquidation for $16 million owed.
Prakash has joined Shavin Real Estate and now operates as a salesperson there.
The Real Estate Authority (REA) is reviewing license status for Hills-linked individuals.
Liquidators are examining potential breaches of director duties and overdrawn accounts.
Asset freezing orders and mortgagee sales of properties owned by the trading team escalate.

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Story summary

Rickhil Prakash, Hills Real Estate director, is under Inland Revenue Department (IRD) investigation, triggering liquidation for $16 million owed.
Prakash has joined Shavin Real Estate and now operates as a salesperson there.
The Real Estate Authority (REA) is reviewing license status for Hills-linked individuals.
Liquidators are examining potential breaches of director duties and overdrawn accounts.
Asset freezing orders and mortgagee sales of properties owned by the trading team escalate.