Desmond Allomes, a former South Australia-based director of AC Insurance Brokers, has been charged with three offences under the Insurance (Agents & Brokers) Act after the Australian Securities and Investments Commission (ASIC) alleged the group had a deficiency in its insurance broking account of between $199,000 and $204,000.

ASIC alleges that between July 31 2000 and July 31 2001, Mr Allomes intentionally or recklessly allowed the company to fail to take action to ensure there was no deficiency in the insurance broking account. Mr Allomes will appear in an Adelaide court on April 2.