Ah. Wastegates and dump valves are different things.
A wastegate is a bypass device built into the turbo itself, designed to limit the maximum pressure the turbo can create. What it does is effectively bypass the turbo's exhaust side impeller so it doesn't spin it as fast and create as much boost pressure. It isn't connected to the intake.
A dump valve is fitted to the intake side of the engine. What it does is vent off all pressure from the turbo when high vacuum is sensed in the intake - i.e. you've closed the throttle. When you close the throttle in a petrol engined car, you close a valve in the intake which the turbo tries to blow against - this can stall the turbo and cause excess wear as it's trying to push air where it can't go. A dump valve would open and vent this pressure, allowing the turbo to slow down in it's own time rather than being forcibly slowed.
A diesel engine doesn't have a throttle butterfly, the intake is always fully open. Diesel engines dont work the same way as petrol ones with regard to weak and rich mixtures (yes, you can still overfuel and smoke though) so there's no need to limit the air coming in - the power delivered is controlled by the amount of fuel injected.
Fitting a dump valve to a turbo diesel is a job in itself. A conventional dump valve is vacuum operated, and will never open as there's no vacuum created in the intake side. If you do manage to fit one, it CAN slow the car down as you may induce turbo lag - there's no need to vent the boost pressure on a Turbo Diesel, if you do so the turbo will have to spool up again to create more boost again when you floor it in the next gear. If you don't slow it down, it won't have to speed up again.
Dead right with the suck through turbos and no dump valves - the way these are designed the turbo sucks through a carburettor, so you've got fuel and air mixture in the boost line - you don't want to release this under pressure in the engine bay as you might just go up in flames!