A former bank manager arrested in the mix of a cocaine bust worth R18 million, allegedly linked to international cartels

A significant drug bust was made recently where 115 bricks of cocaine with an estimated street value of R18 million were discovered in a storage unit, allegedly linked to multiple international cartels.

The revelations emerged in the Cape Town Magistrates Court during the ongoing bail application for Raed Cupido, a suspended Standard Bank manager.

Lieutenant-Colonel Christiaan van Renen, the lead investigator, unpacked the details during his testimony, asserting that Cupido and his co-accused, Christopher Carlese, were allegedly acting as “first receivers” for the cartels trafficking the drugs into South Africa.

Initially arrested on June 10, Cupido’s case has raised numerous concerns regarding organised crime and the implications it has for public safety.

The extensive haul recovered on the day included not only the cocaine but also an arsenal of weaponry: an AK 103 Rifle, an Uzi Pro Rifle, five semi-automatic firearms, and 130 rounds of ammunition, all found within the confines of the storage units they rented in Roeland Street.

Notably, three of the firearms had been linked to a 2019 business robbery in Boksburg, where 69 firearms were stolen, raising further questions about the network supporting this illicit operation.

As the court heard last week, video footage obtained by the police has been crucial in establishing a timeline of events.

A piece of footage also showed Cupido exiting an elevator and approaching a white Polo, a month before his arrest. This evidence, along with forensic results confirmed the drugs’ links to international operations.

During his arrest, Cupido allegedly confessed to police that the powder in question was cocaine. He has since claimed that he was a family man, soccer coach, and businessman who is being framed, insisting,

“I am not involved in drugs.” However, court documents reveal that he was fighting hard to maintain his innocence while seeking bail based on the overcrowded conditions of Pollsmoor prison, where he argues he faces health risks.

Carlese, Cupido’s alleged accomplice, was arrested a month later, on July 13, although he has claimed he was not present during the initial bust, asserting that he was home in Kensington at the time. This contradicts the evidence presented by the prosecution, which includes forensic science which apparently linked both men to the narcotics.

Cupido also disclosed that he had been pressured by police officers linked to former alleged 28s gang boss Ralph Stanfield into admitting ownership of the drugs, allegedly in exchange for his freedom. Such claims raised critical questions about the procedural integrity within the police force and the challenges faced in combating organised crime.

Cupido's background adds further layers to this complex case. A former commercial planning manager with esteemed companies like British American Tobacco and a fleet owner, he boasts considerable financial success, with monthly earnings approximating R78,000 and an additional R160,000 from his transport business. His has properties, valued at over R20 million.

The court proceedings have now been postponed to August 1, awaiting further arguments on the bail application as the investigation into drug trafficking operation continues.