Johannesburg - The Hawks on Tuesday arrested four people for alleged misappropriation of funds from the Land Bank.
The four, who are described as "high-flying", were arrested following an investigation by the unit, said spokesperson McIntosh Polela.
The four, who include a former Land Bank CEO and a former housing MEC in Limpopo, were implicated in an investigation relating to a sum of R14m that was transferred from the AgriBEE fund to a firm of attorneys.
Polela said the Hawks would present evidence that this money was used to buy houses and cars instead of the intended purpose of funding struggling small, medium and micro enterprises.
Two of the accused were arrested in Polokwane, another in Bella Bella and the fourth handed himself in at the Brooklyn police station in Pretoria.
They will appear in the Commercial Crimes Court in Pretoria on Wednesday in connection with charges relating to fraud, theft and money laundering.