This comes after the Hawks and the National Prosecuting Authority (NPA) pounced on the suspects during several search-and-seizure operations in Gauteng and Limpopo.

On Wednesday, eight suspects were pointed out in the notorious heist – four of which were arrested on the spot.

National Prosecuting Authority (NPA) head, Shamila Batohi, says the wheels of justice are turning.

“Given the pervasive culture of impunity that this country has sadly become accustomed to in recent times, it must be borne in mind that quality investigations and prosecutions regrettably need time and patience.”

The bank collapsed in March 2018 following a string of unscrupulous transactions.

The South African Reserve Bank released a damning report in October 2018 that detailed the looting of nearly R2 billion from the now-defunct Limpopo-based bank.

Batohi pleaded with the public to be patient as the NPA unravels the intricate web of looting.

“Our actions will indeed speak for themselves,” Batohi added.

“We will certainly prosecute wherever the evidence takes us.”

The suspects face 47 counts of various criminal offences, including 5 counts of racketeering, 12 for theft, 7 for fraud, 15 counts are of corruption and another 7 counts are of money laundering.

The eighth suspect is still recovering from Covid-19 at a quarantine site and will appear in court as soon as he has recovered.

Jacaranda FM