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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.