“The woman was arrested at their home in Bloemfontein at about 4am on Monday,” said Constable Peter Kareli.
The woman’s husband, 35, handed himself over to the police in the presence of his lawyer on Monday morning.
Kareli said both faced 26 charges of fraud amounting to more than R2 million.
He said the couple, who ran an estate agency business, had allegedly committed the fraudulent acts since 2009.
They are expected to appear in the Bloemfontein Magistrate’s Court soon.