Sure. This is not surprising; if I spontaneously deny having done something, many people will in fact treat this as evidence of my having done it. (Obligatory TV Tropes link.)

That said, of the set of all possible actions that I haven't denied doing that I've been accused of doing, I've done a non-trivial percentage P1 of them. Of the times that I deny having done something that I've been accused of doing, I lie some non-trivial percentage P2 of the time.

Therefore, my denial of something I'm accused of is evidence of guilt if P2 > P1 and evidence of innocence if P1 > P2.