British boxer David Haye has reportedly been accused of fraud after he was arrested at Dubai airport when a £341,000 cheque bounced.

The 34-year-old is believed to have used the cheque as payment for a new property, but after it bounced, the authorities were forced to detain Haye in a police cell at Dubai International Airport.

According to The Sun, the sportsman handed over his passport and he has not been permitted to leave the United Arab Emirates, meaning that he missed a mixed martial arts event that he was due to commentate on.

"The cheque was presented to the bank four days before I landed," Haye told the newspaper. "It was not due to be presented until final completion of my property, which is due in a few weeks.

"This was an administrative error which is being rectified. I explained to the police and presented documents as proof, but I can totally understand these mistakes can happen."

Haye has not been in the ring since his win over Dereck Chisora in July 2012.