NAY PYI TAW, June 2 (Xinhua) -- Myanmar former Mining Minister Myint Aung denied Thursday that he and leading members of the Gem and Jewelry Entrepreneurs Association had misappropriated 80 million U.S. dollars' fund of the association, saying that online media reports are not true.

Clarifying at a press conference in Nay Pyi Taw , Myint Aung also denied that former President U Thein Sein was involved in the misappropriation case by taking 7 million U.S. dollars for setting up a Myanmar Art Center.

"Some media were writing as they assume without investigation for popularity and this damages the reputation of the pride of U Thein Sein as well as the party he is leading," Myint Aung said.

In fact, he further clarified that President U Thein Sein did order to build the art center for socio-development with the donation of entrepreneurs and the additional fund of 7 million U.S.  dollars was sourced from the association, the account of which was transferred to the Ministry of Construction.

The ex-minister turned down that there was bribery, adding that legal reaction will be made against the accusation.

Present at the press conference were also former Deputy Minister of Construction U Soe Tint and former Information Minister U Ye Htut.

In another press conference given by members of the association in Yangon on the same day, Executive Committee Member U Kyaw Kyaw Oo raised question of the whereabout of the association's 1 percent tax or 93 million euros, saying that the investigation report of the Ministry of Resources and Natural Disaster will come out next week and legal action will continue with the case.