Property spruiker Jamie McIntyre has been banned from corporate life and offering financial services for a decade as part of corporate regulator ASIC crackdown on land banking.

In the Federal Court on Monday Justice Bromwich banned McIntyre and his brother Dennis from company directorships over their involvement in a string of land banking schemes across Victoria and in Townsville into which mum and dad investors had tipped millions of dollars.

Decade ban: 21st Century Group chief executive Jamie McIntyre. Credit:Wayne Taylor

He said liquidators had failed to locate more than $7 million outlaid on controversial options on five schemes earmarked for sites on the outskirts of Melbourne, Bendigo and Townsville.

Justice Bromwich found that the land banking projects were unregistered managed investment schemes, and that McIntyre and his brother Dennis, and their companies, had unlawfully conducted an unlicensed financial services business.