Sunday, March 1, 2009

Now 13 Aussies arrested in Dubai collapse

Royce Millar reports in the Sydney Morning Herald :

Three property industry high-flyers, including the senior agent of a company part-owned by James Packer, are among 13 Australians under arrest in Dubai as its supposed property miracle has succumbed to the global financial crisis.

[ ... ]

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

It is understood the bribery 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 Dubai Government and its ruler, Sheik Mohammed bin Rashid al-Maktoum.

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

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