An underworld figure whose son has been charged with murdering two men shot outside Melbourne nightclub Love Machine has been granted bail, despite police fearing he is a risk to the public.

Nabil Maghnie, 43, also known has Nabil Moughnieh, is accused of having cocaine in his system when he crashed his Range Rover at 209km/h, into a Holden ute.

Nabil Maghnie leaves court on Tuesday. Credit:Chris Hopkins

The crash occurred in Woodstock, north of Melbourne, about 12.40am on May 25. Mr Maghnie then had an associate claim to police he was the driver.

The driver and passenger of the Holden were lucky to avoid injury when the impact of the collision nearly forced the ute's tray off its chassis.