Oranjestad , Aruba ( CNN ) -- A three-judge Aruban panel on Wednesday denied American Gary Giordano 's appeal of a ruling keeping him behind bars for another 60 days as authorities investigate the disappearance of his American traveling companion , his attorney said . Attorney Michael Lopez said Giordano was sad and disappointed with the ruling . Giordano is being detained improperly , he said , and his rights are being violated . Giordano left the hearing with a shirt covering his head . On Tuesday , authorities on the Caribbean island questioned Giordano for an eighth time in connection with the disappearance of Robyn Gardner . Gardner , 35 , was last seen on August 2 near Baby Beach on the western tip of the island . Three days later , police took Giordano , 50 , of Gaithersburg , Maryland , into custody . Last week , an Aruban magistrate ruled that Giordano should be held for another 60 days while the investigation continues . The magistrate 's brief order did not elaborate on the decision beyond saying the suspect , identified by his initials of G.V.G. , was `` suspected of involvement in the possible drowning of the American woman , '' and that the custody extension `` was done on request of the Prosecutor 's Office . '' Gardner has not been found ; search efforts are ongoing . The missing woman and the suspect arrived on the island July 31 from the United States , according to Aruban prosecutors . Giordano told authorities he was snorkeling with Gardner and signaled to her to swim back , according to a statement from the prosecutor 's office . When he reached the beach , Gardner was nowhere to be found , he allegedly said . According to a transcript of a police interview , obtained by CNN , Giordano told police that he feared for his life when he signaled for Gardner to turn back and did n't look for her as he swam for shore . `` I only looked back when I hit a rock , '' the document quotes Giordano as telling investigators . `` Before that , I did not look back . I was only busy saving my life . '' Giordano has told authorities that he is the beneficiary of a $ 1.5 million accidental death insurance policy tied to Gardner , a local official told CNN . Asked why Giordano called the insurance company about the policy less than two days after Gardner disappeared , Lopez said Wednesday he directed his client to make the call . He said he believed Giordano 's continued detention stems from the high-profile case of Natalee Holloway , an Alabama teenager who disappeared on Aruba in 2005 and has never been found .
NEW : Gary Giordano 's attorney says he is being detained improperly . The attorney says he told Giordano to call about the insurance policy . Giordano is held in connection with the disappearance of Robyn Gardner . Giordano , 50 , was taken into custody on August 5 .