The Hawks and the National Prosecuting Authority (NPA) have revealed that more individuals linked to the looting of about R2.2 billion from the now defunct VBS Mutual Bank could be arrested soon.

Investigations will lead us to those we believe have been involved in the looting of the bank.

VBS chairperson Tshifhiwa Matodzi, who was described as the alleged "kingpin" of the looting scheme, VBS CEO Andile Ramavhunga, former VBS treasurer Phophi Mukhodobwane and former non-executive VBS board members Ernest Nesane and Paul Magula, as well as former KPMG engagement partner Sipho Malaba and Phalaphala Avhashoni Ramikosi, the former chief financial officer of the South African Police Service, are facing 47 charges of fraud, theft, money laundering, corruption and racketeering.

The eighth accused, former VBS chief financial officer Philip Truter, did not appear in court because he was in quarantine due to Covid-19.

NPA spokesperson Sipho Ngwema said a lot of good work had taken place in the background, and critical evidence had been collected.