Finance Finance News Jailed businessmen feuding

Jailed businessmen feuding

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Two Australian property executives who shared a jail cell in Dubai have reportedly not spoken since 2010 following a massive falling out over the deal that got them in trouble.

Marcus Lee and Matt Joyce were detained for five years in Dubai after being charged with fraud over a $14 million property deal with Australian developer Sunland.

Although the pair spent months sharing a bunk bed and close quarters in a Dubai jail, the ABC reports that they have since ceased all contact due to a row regarding the involvement of a third businessman in the deal.

According to reports, Mr Joyce revealed to Mr Lee in prison that he was friends with Angus Reed, a fellow property developer also involved in the deal who had avoided jail time by leaving the country prior to charges being laid.

All three men have maintained their innocence regarding the deal which involved Sunland paying $14 million a non-existent right to a section of land.

Mr Joyce faced conviction at one point, but the charges against both men were dropped and they were able to return to Australia earlier this year.