i will not promote - co-founder wants to use our anchor investment on his personal expenses

Looking for sanity checks from startup founders and investors on early-stage capital allocation and investor relations. A 3-person team spent nine months building a venture, handling platform development, website architecture, codebase creation, branding, outreach, and marketing operations. We had clear alignment on equity splits, profit sharing, and long-term roles throughout the build. However, after an investor made it clear that he will fund us, our co-founder sent an updated document laying out a completely different operational structure. In it, he explicitly wrote: A few key details: He was the sole person to meet the investor in person at his home after receiving travel coverage. The investor is an alumnus of a university our team attended. We have strong reason to believe the rest of the building team was either downplayed or completely omitted during those discussions. We saw a glimpse of the financial breakdown he sent to the investor: it listed standard business operating costs with no explicit line item for founder living expenses , despite him telling us the check is strictly for his personal runway. Now, he is attempting to push the core team out entirely without equity or compensation. We want to ask: Is allocating early external capital, especially an anchor investment, toward a single founder okay in any scenario? Assuming the investor gave him that money expecting standard operational use, is it possible our co-founder mentioned there are other "contributors" working on this and the investor just didn't bring it up? (For example, up until this point, the investor didn't ask to meet us at all). If the investor discovers there are core builders who worked on this without equity or contracts and our co-founder misrepresented the setup, how would he (or investors in general) typically view this dynamic? Should we make the investor aware of this?