From Boardroom to Cocaine Bricks: Ex-Standard Bank Manager at Heart of Drug Cartel Allegations

Standard Bank manager’s alleged fall from grace tied to R18 million international cocaine bust

In a case that sounds more like the plot of a gritty Cape Flats crime thriller than real life, a former Standard Bank manager now finds himself accused of being a front-line operative in a high-stakes international drug smuggling ring.

Raed Cupido, 40, once donned tailored suits and rubbed shoulders in boardrooms. Now, he’s fighting for bail from the confines of Pollsmoor Prison, where he’s being held following a dramatic R18 million cocaine bust in Cape Town.

A Cocaine Cache Hidden in the City Bowl

The drama unfolded on 10 June when police uncovered 115 tightly packed bricks of cocaine, two military-grade rifles including an AK-103 and Uzi Pro, five semi-automatic firearms, and 130 rounds of ammunition inside a Roeland Street storage unit in the heart of Cape Town’s CBD.

The stash, according to police, wasn’t just street-level hustle, it had international fingerprints all over it.

Lieutenant-Colonel Christiaan van Renen, the lead investigator, told the Cape Town Magistrates Court last week that Cupido and his alleged co-conspirator, Christopher Carelse, were “first receivers” of cocaine smuggled into South Africa by foreign cartels.

“Forensic results show the cocaine was linked to multiple international cartels,” he stated.

From Soccer Coach to Suspected Smuggler

Cupido, who appeared calm and composed during his bail application, has insisted he’s not a criminal but a “family man” and respected community figure. Known to some as a youth soccer coach, he told the court that he’s being framed.

The father of two, who previously earned R78,000 a month and owns a R20 million property portfolio stretching from Claremont to Green Point, also runs a fleet company generating R160,000 monthly. His resume includes roles at British American Tobacco, Woolworths, and Philip Morris, where he once travelled the world.

So, how did he end up in a Cape Town courtroom, accused of trafficking for international drug lords?

“I Was Framed,” Says Cupido

Cupido’s defence argues he was coerced into admitting the drugs were his, allegedly by a police officer connected to the powerful 28s gang figure Ralph Stanfield and his wife Nicole Johnson. According to Cupido, he was promised freedom in exchange for a false confession.

He also highlighted the poor and overcrowded conditions at Pollsmoor as a reason for his bail request, saying it threatens his health.

But the evidence police say they’ve gathered paints a different picture.

Digital Trails and Storage Clues

Cupido and Carelse had rented neighboring storage units, Cupido in Unit 869 and Carelse in Unit 868. Surveillance footage dating from late April to early June shows Cupido entering the facility, riding the lift, and walking to a white Polo and later allegedly carrying a box similar in shape and size to one that was later found containing cocaine bricks.

When Cupido was arrested, he had two iPhones and an Apple Watch on him, all of which he refused to hand over. Police are now working with a cyber warrant to access possible incriminating data from his devices.

Van Renen also revealed that three of the seized firearms had been reported stolen during a 2019 armed robbery in Boksburg, during which 69 guns were stolen. The other weapons recovered aren’t even listed on South Africa’s national firearm database.

Public Shock and Social Media Speculation

The case has sparked widespread disbelief and debate on social media, where many South Africans are questioning how someone with such a polished professional background allegedly became a courier for international criminals.

“This is like Narcos: Cape Town,” one user tweeted. Others pointed out the growing links between organised crime and respectable public figures, warning that corruption and gangsterism might be more entrenched in South Africa’s corporate corridors than previously imagined.

The case was postponed to 1 August for closing arguments in the bail application. Whether Cupido walks out temporarily or remains behind bars, the story is far from over. What is clear, however, is that this explosive case could pull back the curtain on just how global the drug game has become and how close to home it really hits.

{Source: IOL}

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