Australian nationals held as part of year-long investigation

Three senior Nakheel staff are being held by Dubai authorities investigating alleged fraud. The three were working on the developer鈥檚 Waterfront scheme.

Two are Australian nationals, according to the Financial Times. They include Waterfront managing director Matt Joyce, who was made redundant from the project last month reportedly.

The detentions are part of a year-long investigation that has seen at least 20 executives arrested on suspicion of fraud, including managers from developers Deyaar, Sama Dubai and Mizin. Senior staff from Dubai Islamic Bank have also been questioned.

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