GIM Trading is alleged to have defrauded ordinary Australian investors of nearly $8 million through a purportedly “low-risk” bond scheme that now appears to be a sophisticated scam.
Australian company Global Investment Marketing (GIM Trading) is under scrutiny after being accused of defrauding millions of dollars from ordinary investors who believed they were buying low-risk corporate and government bonds. Reports to the National Anti-Scam Centre suggest losses of around $8 million since early 2024, with many investors now unable to contact the company or access their funds.
The public face of the firm, Stephen Cubis described as a director has admitted uncertainty about whether any of the supposed bonds were ever purchased and expressed concerns himself, though his exact role in the alleged misconduct remains unclear.
Retirees and other investors who were sold the product believed they were buying secure investments, often relying on GIM’s claims of having a financial services license and ties to major institutions. In reality, the company was using another entity’s license and many investors have reported no returns or communications after transferring funds.
Independent investigators and industry experts have described the scheme as “one of the most sophisticated frauds” they’ve seen, noting that even experienced investors were misled. Some bond details and credentials touted by GIM have been refuted by the purported issuing institutions.
Regulators—including the corporate watchdog ASIC—have added GIM Trading to investor alert lists and urged caution, while investigations continue into who was behind the alleged scam and the flow of funds.
