A bankrupt property developer who models himself on Wall Street character Gordon Gekko has been kicked off a Mount Hotham hotel project, amid serious concerns about the due diligence undertaken by the alpine resort's board.

Anton Joseph Wilson, who owed more than $61 million when declared bankrupt last year, has been told he will not be part of the $26 million redevelopment, according to a statement from the Mount Hotham Alpine Resort Management Board.

Film character Gordon Gekko and bankrupt developer Anton Wilson.

Mr Wilson's development firm, Mider, and any associated companies, are also banned from any involvement following a series of revelations in The Age last month.

The decision to banish Mr Wilson from the project is expected to delay construction on what has been promoted as the largest private development in Mount Hotham's history.