It was revealed in April last year that Shezi was under investigation by police watchdog the Independent Police Investigative Directorate (Ipid) for alleged corruption.
Ipid investigated the case in collaboration with the investigative directorate within the National Prosecuting Authority (NPA).
Shezi was suspended in November last year following an ongoing forensic investigation that implicated her in dubious financial transactions amounting to millions of rand.
All three accused were released on bail of R1,000 each and will appear in court again on February 7 next year.
Ipid said Shezi's arrest was to ensure that "police officers who are accused of wrongdoing and irrespective of rank and seniority are held accountable".