The corporate watchdog is looking to put property spruiker Jamie McIntyre out of the property and finance business with major legal action launched this week.

Mr McIntyre and his brother Dennis McIntyre have both been ordered to hand over their passports to the Federal Court on Monday following a request by the Australian Securities and Investments Commission.

Henry Kaye, Jamie McIntyre and Konrad Bobilak at a fancy dress party.

ASIC's crackdown on Jamie McIntyre, who runs 21st Century Group, follows an investigation by Fairfax Media that revealed the McIntyre brothers and the sister of notorious property spruiker Henry Kaye were behind a land banking scheme in Bendigo that went bust last month.

The Bendigo scheme is one of a string of land banking projects across Victoria linked to either Mr McIntyre and or Mr Kaye.