Matt Joyce from Melbourne and Marcus Lee from Sydney were both in the emirate working for development company Nakeel when they were taken into custody by authorities.
Martian Ahmad, their lawyer, said the specifics of the charges were not yet clear.
"The allegation is that in their employment they were somehow involved in fraud, the details we don't know yet," he told ABC News.
Mr Ahmad noted that the pair have been kept in solitary confinement for several weeks and are struggling due to being allowed minimal contact with their families.
No date for the trial has yet been said, the news source stated.
Last month authorities in Dubai stepped up their efforts to combat money laundering in the emirate, assisting Interpol in the arrest of a Dutch national suspected of being involved in an illegal worldwide operation.