I believe it's that huge breasted He'li that is your problem. I bought the banner as well from Kunar and never once was accused of playing both sides. The thing I didn't do, was even go near He'li in Arnika. Once I entered the Umpani base (doing the first quest for Z'ant of course), I have never gone close to her bar, not even once.
Avoid her and you'll have no problems. I just now turned in Kunar to get rid of him and did both sides all the way to the last quest for both. Z'ant still hugs me with all 4 of his arms when he sees me.
He'li is a lier. She'll take your money and rat you out. Later I'm gonna have to go back and give her what she deserves/wants, then kill her of course.
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<B>Valthar</B>
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