Hawks spokesperson Hangwani Mulaudzi said the unit was not carrying out raids this morning, but rather executing warrants of arrests.
Three people, including one Gupta brother, have been arrested.
Two other suspects are expected to hand themselves over to the Hawks.
The priority crime unit cannot reveal the names of those arrested until they appear in court tomorrow.
According to a Hawks statement, their operations are related to the Estina diary project in Vrede, Free State where R200 million in funds meant for emerging black farmers was allegedly siphoned by the Guptas and their associates.
Former Free State agriculture department head, Peter Thabethe, is understood to be among those arrested.
The Hawks were spotted at a property in Bedfordview that is believed to be owned by Ashok Narayan – a Gupta lieutenant and former managing director of Sahara Systems.
According to Reuters, police also raided the offices of the Guptas’ Oakbay holding company in Sandton.
