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Bank manager probed for cocaine cartel ties
Cape Argus
|July 21, 2025
A SUSPENDED Standard Bank retail manager and his alleged associate remain in custody following their arrest in what police are describing as a high-level drug trafficking investigation with suspected links to an international cartel and Colombian cocaine suppliers.
Raed Cupido and Christopher Carelse appeared in the Cape Town Magistrate's Court on Friday on charges relating to the possession and dealing of cocaine, possession of prohibited firearms, including an AK-103 assault rifle and a Uzi Pro machine pistol, and the unlawful possession of ammunition.
Police estimate that the drugs seized carry a street value of R18 million.
According to an affidavit submitted by Lieutenant-Colonel Christiaan Daniel Dirk van Renen of the Western Cape Anti-Gang Unit, Cupido was arrested on June 10 after police received intelligence about suspicious activity at a Roeland Street storage facility in the Cape Town CBD.
During a surveillance operation, Cupido was seen accessing one of the storage units.
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