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  1. 525 Posts.
    Is this one reason why the SP has got hammered?

    Fear for Aussies in Dubai cells
    Royce Millar
    March 2, 2009
    Page 1 of 3 | Single Page View

    The Atrium that was to be developed by Sunland Group in Dubai.
    A vision of gleaming new cities in the desert has proved to be a mirage for Australians lured by Middle East riches.

    THREE property industry high-flyers, including the senior agent of a company part-owned by James Packer, are among a growing number of Australians under arrest or investigation in Dubai as a supposed development miracle has succumbed to the world financial crisis.

    Australian authorities have confirmed that 13 Australians are under arrest in Dubai over charges or allegations ranging from bribery to failure to pay bills.

    A legal source in Dubai has confirmed that among those in jail or under effective house arrest over property-related bribery allegations are:

    ? Marcus Lee, until recently a senior executive with the Dubai Government-controlled Nakheel development company. He is a former executive with Australian companies Jones Lang LaSalle and Investa. Mr Lee is in jail without charge.

    ? Mr Lee's Nakheel colleague Matthew Joyce, a former Melburnian who is also in jail without charge.

    ? David Brown, head of the Sunland Group in the Middle East, a Queensland-based development company part-owned by Mr Packer. He has been interrogated at least four times and has had his passport confiscated.

    They are of particular concern to lawyers and the Australian embassy because of the seriousness of the allegations and the uncertainty about their future. United Arab Emirates law allows suspects to be held indefinitely without charge.

    It is believed the allegations involve millions of dollars in consultancy payments by Sunland to Nakheel and a third party over a waterfront property purchase.

    Nakheel is one of four development companies linked to the government and ruler Sheik Mohammed bin Rashid al-Maktoum.

    Mr Lee and Mr Joyce have been in solitary confinement since January 25. They have been allowed only limited access to lawyers and family.
 
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