In the UK this term is used as an all-purpose term to indicate something bad or negative. Can be used as a adjective or verb. The swiss army knife of the negative slur world. Can sometimes be used as an affectionism. Commonly used to describe a thief or act of theft.
1. Adjective. I hate Justin Timberlake, he's such a fuckin' chief.
2. Verb (beat up). You wanna watch yourself 'cos I'll chief you up bitch.
3. Verb/Adjective. That fuckin' chief Daniel chiefed my fuckin' beer. I'm gonna fuckin' chief him up good.