Two Australian professionals who worked for Dubai developer Nakheel have been formally charged with fraud, after being incarcerated for six months.
Matt Joyce from Melbourne, managing director of the ambitious Dubai Waterfront development, was arrested on 25 January along with his colleague, Marcus Lee of Sydney. The two businessmen were detained on suspicion of “improper behavior” and held in a Dubai prison.
The first court hearing is scheduled for some time over the next two weeks and the two men are expected to plead not guilty.
However, the details surrounding the case are unclear. The allegation against them is that they are somehow involved in fraud.
“We are confident knowing what we know about the potential allegations that there is a huge misunderstanding and that the charges should be dismissed,” Joyce’s lawyer, Martin Amad, told the Australian Financial Review.
Joyce and Lee are said to be not coping and their families are reportedly struggling without their incomes.
“There is a sense of relief that there is now a charge to be dealt with but there is some concern as well. Anything could happen but we’re very confident the charges could be dismissed,” Amad said.
Nakheel is a Dubai government-owned development company, employing 1,800 employees.
This comes as Nakheel puts its redevelopment of the QE2 into a stationary hotel on hold. Cape Town in South Africa is said to be a likely candidate for hosting the iconic ship.
