Standard Bank suspends marketing manager after drug and firearms arrest

Nicola Daniels and Kim Swartz

STANDARD Bank has suspended one of its marketing managers following his arrest in connection with a major drug and firearms bust.

Raed Cupido, 40, was arrested on June 10 at a storage unit in Roeland Street, Cape Town, where police allegedly discovered 15 bricks of cocaine worth R18 million, an AK-47 rifle, five 9mm pistols, and a stash of ammunition in his possession.

In light of the ongoing criminal case, Standard Bank said the employee had been suspended pending the outcome of the legal proceedings.

“Standard Bank has a zero-tolerance policy towards criminal activity. As per the Bank’s established practice, the Bank has suspended a marketing manager in its employ, pending the outcome of criminal proceedings. Standard Bank confirms that in the event that the Bank is approached by law enforcement, it will ensure full co-operation,” the bank said.

Cupido failed in his bid to have Magistrate Alida Thear recuse herself from presiding over his bail application, arguing that her previous involvement in a related case could bias the proceedings.

According to court documents, during his arrest, Cupido received a phone call from a former employee of alleged gang boss Ralph Stanfield and his wife, businesswoman Nicole Johnson, who allegedly told him to falsely say the drugs belonged to the couple.

In his affidavit, Cupido claimed that the caller (the couple's former employee) allegedly told him: “Tell the police officers that the drugs belong to Ralph Stanfield and Nicole Johnson; they will allow you to get into your car and drive away.”

Cupido said he responded: “I do not know what you are talking about.” He alleges the caller then asked: “Are you not going to do what he told you to do?”

Cupido maintains that while he grew up in the same area as Johnson, he had no personal ties to her or Stanfield.

The incident, according to his court papers, was a clear attempt to pressure him into falsely implicating Stanfield and Johnson in exchange for his release.

That same former employee is a complainant in a separate case against the pair, claiming they stole his BMW in 2022.

Cupido argued that Magistrate Theart’s link to Stanfield and Johnson’s bail application makes her biased in his case.

“I am concerned that the prior exposure to facts, allegations, or evidence in Ms Johnson’s bail application and her credibility findings against Ms Johnson would compromise the perception of impartiality in my application for bail.”

Theart, however, dismissed the recusal application, saying: “The question is whether or not the court will hear evidence from (this former employee) to corroborate submissions by (Cupido). The question is what does (Cupido) want Johnson to testify as a witness (for him).”

Among the long list of charges against him, Stanfield was charged with the murder of former Hard Livings gang boss Rashied Staggie.

Ralph and Johnson were arrested by the Anti-Gang Unit, facing attempted murder charges after an alleged manhunt for a former employee who allegedly stole R1 million from them.

They recently had charges relating to a R1 billion housing tender fraud case provisionally withdrawn.

Cape Times