Cape Town banker insists he’s innocent amid R18 million cocaine bust

A Westridge man-turned-big-shot banker says he’s not a drug dealer, but a family man, soccer coach and businessman who’s being framed in a R18 million cocaine bust case.

Raed Cupido, 40, was back in the Cape Town Magistrates Court on Tuesday in a bid to apply for bail after a failed attempt to have the magistrate kicked off his case.

He was busted on June 10, at a storage unit in Roeland Street, where cops allegedly found 15 bricks of cocaine, an AK-47, five 9mm pistols and a stash of ammunition. 

The court previously heard that Cupido was pressured by a cop and former employee of alleged 28s gang boss Ralph Stanfield and his wife Nicole Johnson into saying that the drugs were theirs in exchange for his freedom.

Cupido, who has been suspended from his senior marketing executive job at Standard Bank since his arrest, says he grew up in Westridge, Mitchells Plain, but built his life through hard work.

The accused, who earns approximately R78 000-a-month, previously worked at British American Tobacco Group, Woolworths and Phillip Morris Group where he worked as a commercial planning and development manager and flew across the world in this job.

He also owns RADC Transport, a fleet company with 17 vehicles that earns R160 000 per month, and owns properties including in Rondebosch, Claremont and Green Point, valued at over R20 million.

The accused states in his application that he is a family man who is married to a conveyance attorney and have two minor children, however, since he has been in prison their family trip to France was cancelled.

Cupido states he is a well-respected soccer coach within the community and due to conditions at Pollsmoor prison being overcrowded and damaging to his health, he is appealing to be released on bail.

He added that he has no previous convictions, pending matters, outstanding warrants, and is not a flight risk or danger to society.

Meanwhile, co-accused Christopher Carelse who was arrested on 13 July, a manager at Shell Downstream SA said he was not present at the storage unit when the alleged drugs, firearms and ammunition was found.

The court documents reads: “I deny having any knowledge or involvement in the commission of this crime. I was arrested one month after the alleged discovery was made by the police."

Cape Argus