Bail has been refused for the two Australian men who worked for Dubai developer, Nakheel, after they were charged with fraud earlier this year.
Matt Joyce, former chief executive of the Dubai Waterfront Development, owned by Nakheel, and Marcus Lee, the former commercial operations manager, have been held in a Dubai prison since 25 January.
They have denied claims that they were part of a group of professionals who illegally gained approximately $14 million in commissions on a land deal that fell through.
The charges relate to the Sunland Group's purchase of a site from the Dubai Waterfront company in October 2007.
"Sunland is going to pursue its rights both in Dubai and Australia against the individuals that have been named by the authorities and pursuant to the investigation that was conducted by the Dubai government," Sunland managing director, Sahba Adebian told The Australian Financial Review.
The case has been adjourned until 20 October.
