National Building Society Loses $78 Million As Strategic Executive in Housing Scam

National Building Society (NBS) lost $78million to its employee who allegedly handpicked his companies to do building contracts without permission from authorities.

NBS dragged its strategic executive assistant to the general manager, Tirivavi James Chiuta, 35, to court on criminal abuse of office charges after he allegedly swindled the firm of an estimated $78 827 500.

Court heard the handpicked companies failed to deliver resulting in the offence being unearthed.