A director of the failed investment company, Opes Prime, has rejected a claim that he duped ANZ into lending him A$95 million despite knowing that the business would fail within days. Julian Smith is facing two charges of acting dishonestly while a director of Opes Prime.In a case being heard in a Melbourne court, Smith is accused of using the $95 million to pay the debts of another of his companies, while Opes Prime had a $200 million shortfall in its accounts.Smith has pleaded not guilty to two counts of using his position as a director to gain advantage. Crown prosecutor Greg Lyon told the court last week that Smith knowingly misrepresented Opes Prime's financial position to ANZ.The Australian reports that during the defence opening yesterday, the court was told that Smith had provided a personal guarantee for the loan and would not have risked his wealth by giving the guarantee knowing the company would soon collapse.Smith's counsel said the loan from ANZ was a "rescue package" and there were a number of "unknowables"  that suggested the company could be kept afloat.Three days after the loan contract was signed in March 2008, Opes Prime's directors declared the company insolvent and voted to place it in administration. The company owed $650 million to its creditors.