Former Billabong boss and convicted fraudster Matthew Perrin has been denied bail ahead of an appeal.
Perrin has been in jail since January after being sentenced to eight-years' jail for forging a number of signatures, including that of his then-wife Nicole Bricknell to scam $13.5 million from the Commonwealth Bank.
His lawyers applied for his release from custody and have argued the trial judge had made an error in directions to the jury about Perrin's authority to sign his ex-wife's name.
But Queensland Supreme Court Justice Peter Flanagan on Monday found that while Perrin may have arguments to advance at an appeal, the grounds for concluding the appeal would be allowed weren't strong.
The 44-year-old was imprisoned after being found guilty of three charges of fraud and six of forgery.
The jury found he had forged his then wife's signature to secure a loan against their waterfront home, which was solely in her name.
He also forged the signature of his brother Fraser Perrin as a witness on the document.
Perrin's legal team argued authority had been given for Perrin to sign his ex-wife's name for certain financial and legal documents, but the Crown said this did not extend to mortgages.
Perrin will first be eligible for release in late 2020.
The CBA remains about $9 million out of pocket, the court has earlier heard.