Cape Town – The life of Raed Cupido, a 40-year-old Standard Bank manager, seemed the picture of success. A national senior retail marketing manager for one of South Africa's biggest banks, the Standard Bank, Cupido enjoyed a lavish lifestyle, complete with an R8 million home in Rondebosch, international family holidays, and two sons attending private school.
But this image of prosperity crumbled when Cupido was apprehended at a storage unit in Gardens, Cape Town, in possession of fifteen 1kg bricks of cocaine, estimated to be worth R18 million, alongside a cache of high-powered weapons.
The arsenal discovered with Cupido included an AK-47 rifle, an Uzi submachine gun, five 9mm pistols, and a variety of ammunition. The circumstances surrounding his arrest on 10 June, and the origin of the drugs and weapons, remain shrouded in mystery. Cupido was arrested as a result of an intelligence-driven operation conducted by members of the Anti-Gang Unit.
Cupido, who is currently on paid suspension from Standard Bank, appeared in the Cape Town Magistrate's Court on Tuesday to launch his bail application. Dressed in a fez and clutching a string of prayer beads, he listened attentively as his advocate, Reuben Liddell, presented an affidavit detailing his client's remarkable journey from humble beginnings to affluence.
According to the affidavit, Cupido's upbringing was far from privileged. Raised in Westridge, Mitchells Plain, his mother funded his first year of university by selling household detergents. He struggled to afford textbooks, relying on the generosity of classmates to share theirs. Cupido secured a bursary to complete his marketing studies, undertaking internships at prominent businesses before securing positions with major brands such as British American Tobacco, Woolworths, and Philip Morris International.
Cupido stated in his papers that he is married to a conveyancing attorney and has two sons. He claims to have been headhunted by Standard Bank, where he has been employed for the past seven years, earning a monthly salary of R78,000. However, his income extends beyond his banking career. He owns RADC Transport, a company with six vehicles that generates an additional R160,000 per month. He also owns Farmer's Friend, which he admits is currently dormant.
Cupido and his wife have invested in property, owning three properties: their family home in Rondebosch, valued at R8.9 million, an apartment in Green Point worth R2.1 million, and a house in Claremont worth nearly R3.2 million. Cupido explained that they acquired their initial property together, renovated it, and sold it at a profit, laying the foundation for their property portfolio.
Cupido's affidavit also highlighted his commitment to his family and community. He described himself as a devoted father actively involved in his children's lives. A keen footballer in his younger days, he now serves as an assistant coach for one of the teams at Hamiltons Football Club, where he mentors and coaches underprivileged children, providing them with "positive male guidance". He has also travelled extensively with his family, visiting destinations such as Italy, Paris, Greece, Dubai, and Singapore.
Cupido acknowledged the significant impact his arrest has had on his businesses and family, stating that his wife and her practice have suffered reputational damage. While he remained tight-lipped about the specifics of the case against him, he maintained his intention to plead not guilty. He emphasized that he has no prior convictions or pending cases and has surrendered his passport to the police, thereby cancelling plans for a celebratory trip to France with his wife for her 40th birthday this month.
Alongside Cupido in the dock was Christopher Carelse, 36, who was arrested at his home in Kensington on Sunday. Carelse's attorney, Junaid Jumat, informed Magistrate Alida Theart of his client's intention to plead not guilty. Carelse, a business manager, stated that he earns a monthly income of R40,000 and owns a property in Gauteng. He had returned to Cape Town from Johannesburg eight months prior to his arrest. In his plea for bail, Carelse, a father of one, argued that he risked losing his job, which would deprive his family of a vital income.
The State is expected to present its opposition to bail for both Cupido and Carelse on Friday, promising a potentially explosive hearing. The investigation into the case continues, with authorities working to uncover the full extent of the alleged criminal enterprise and the roles played by Cupido and Carelse. The case has raised many questions about how a man who seemingly had it all could find himself embroiled in such serious criminal activity.
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