As the responsible manager and sole director of Alliance Management Group, formerly known as Alliance Insurance Broking Services, De Maria is accused of authorizing three withdrawals totaling $7.9 million, which were then transferred back to him through a third party. This action contravened section 184(2) of the Corporations Act.
In addition, De Maria allegedly issued inflated insurance invoices exceeding $4 million to four separate clients, violating section 1041G of the Act. He is also accused of transferring over $24 million between an AIBS trust account and other accounts controlled by himself, once again contravening section 184(2) of the Act.
As a result of these allegations, ASIC has disqualified De Maria from controlling any entity involved in carrying on a financial services business. Furthermore, Alliance Management Group Pty Ltd's Australian Financial Services Licence (AFSL) has been cancelled by ASIC.
De Maria's banning will be recorded on the Banned and Disqualified Register, and his case is scheduled to be heard at the Melbourne Magistrates’ Court in 2024 for a three-day committal hearing.
