This is possibly due to the FTDI serial driver holding the port with your VID and PID. Solution is to uninstall the serial driver. To completely eradicate the possibility of this occurring in future, it is recommended a new VID and PID is used to distinguish between devices.
Another possibility is an incorrect VID/PID. Try changing your application to use the FT_SetVIDPID API call to quickly determine if this is the case.