Peter Terrill News Today

The founder of Remi Capital allegedly withdrew funds from the firm to spend on a first class holiday to the Bahamas, liquidators have been told.

Assets being sold by receivers include a development site in Sunshine with a permit for apartments and a neighbourhood centre.

A single mother, a board director and small business owners are among hundreds of investors who lost their life savings in the $124 million collapse of property investment firm Remi Capital.

Administrators say the property investment firm raised millions of dollars from hundreds of investors over five years for property developments.