This is an old question, but I just ran into this problem and wanted to add what I just opened, in case this helps someone else.
If UAC is turned off but does not work with increased permissions and tries to write files with limited access (for example, to the "Program Files" folder), you will receive the message "could not find part of the path", instead of (correct) denial of access.
To fix the problem, run with elevated permissions, as in this solution: https://stackoverflow.com/a/316626/
karfus
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