Liquidators of a suspected Ponzi scheme are investigating where investors’ money ended up as part of a failed $30 million property deal with developer and former Melbourne councillor Intaj Khan.

Property investment firm Remi Capital, which collapsed in 2022, raised money from investors for the purchase of Mr Khan’s 24.6-hectare site at Rockbank in Melbourne’s west in 2019 but funnelled the money into a secret bank account, a director driving the deal told the Federal Court on Tuesday.