In a significant development, the Paris prosecutor announced on Wednesday that authorities are making substantial headway in unraveling the daring Louvre Museum heist that took place on October 19. Two individuals, currently detained, are set to be charged with “organized robbery.”

Speaking at a press briefing, Laure Beccuau, the Paris Public Prosecutor, shared updates regarding the two suspects apprehended over the weekend, although the stolen artifacts remain at large.

Should the suspects be found guilty, Beccuau noted, they could face penalties including up to 15 years of imprisonment and substantial financial fines.

There is a looming 96-hour window to either formally charge or release the suspects, which is due to close on Wednesday. Authorities have identified the suspects as residents of Seine-Saint-Denis, a suburb of Paris.

During the press briefing, Beccuau mentioned that the suspects, taken into custody on Saturday, have “partially confessed to their roles in the incident” to the investigators.

A massive manhunt continued on Wednesday for at least two other suspects in the robbery. Beccuau said she has not ruled out the possibility that more perpetrators were involved in the heist, but added that, at this stage, evidence has not suggested any additional accomplices.

Beccuau said trace DNA recovered from a scooter used in the heist and a window at the Louvre helped investigators identify the suspects, whose names have not been released.

One man was arrested about 8 p.m. local time on Saturday at Paris’ Charles de Gaulle Airport as he was about to leave the country without a return ticket, Beccuau said. She said the suspect has lived in France since 2010 and had been convicted of a previous robbery.

Beccuau said the second suspect is a taxi driver who was arrested at 8:40 p.m. on Saturday near his home. She said the suspect’s DNA was found on one of the windows at the Louvre.

Beccuau said the suspect had been previously convicted of “aggravated robberies” in 2008 and 2014.

Investigators previously told ABC News that the second suspect was arrested as he was about to travel to Mali, but on Wednesday, Beccuau said the man had no intention of leaving the country.

ABC News’ Tom Soufi Burridge and Joseph Simonetti contributed to this report.