Three more managers working at the property arm of nationalised financial services group SNS Reeal have been identified as possible suspects, the Telegraaf reports on Monday.

The paper bases its claims on public prosecution department sources. The three, interim managers at SNS Property Finance, has been suspended, the paper says.

They are suspected of bribery embezzlement and money laundering, the paper says. More arrests are now likely.

Two people, including a former unit board member, were arrested last week.

SNS was nationalised at the beginning of the month.