The Court of Appeal denied bail yesterday for an Australian businessman who has been charged with making and using a counterfeit document, although he adamantly denies the allegations and claims they are connected to a personal dispute stemming from a business deal gone awry.

The lawyer for Frank May said the 63-year-old former chief operating officer of telecommunications firm Emaxx ventured out on his own with plans to purchase a power plant last year.

He was arrested in December after Vattanac Bank filed a complaint that May changed a deposit statement to show that he had access to $1 million, when in fact, his account held a little more than $1,300.

“[The bank] said they received a letter from someone asking to certify whether Frank had $1 million or not,” said his attorney, Ngann Chenda.

At the bail hearing yesterday, May, wearing the blue and white uniform of Prey Sar prison, told the Post the letter came from someone involved in the failed power plant deal, and maintained his innocence.

Vattanac Bank could not be reached for a comment yesterday.

To contact the reporter on this story: Joe Freeman at [email protected]