A former managing director of Papua New Guinea's National Housing Corporation has been arrested for misappropriation of property worth over $US7 million.
Last week detectives from the National Fraud & Anti-Corruption Directorate arrested and charged Ditha Morris Nayabbunung in Port Moresby, on seven counts of conspiracy to defraud and seven counts of misappropriation of property of the State of Papua New Guinea.
Nayabbunung was acting Managing Director for National Housing Corporation when he committed the offences and a complaint was laid at the directorate by the corporation.
The charges related to a contract of sale of 301 titles at Duran Farm with PNG Resource Corporation Limited, trading as Kwik Built PNG.
Former MP for Moresby North East, Labi Amaiu; Former NHC Legal Officer, Paul Pera and Tiri Wanga from the Department of Lands and Physical Planning, have already been arrested in the same matter and were committed to stand trial.
Police said they expected to make one more arrest soon.
Nayabbunung is in custody and will appear in court later this week.