Silvio Berlusconi's naked pictures up for grabs for £1 million

Compromising pictures of Italian Prime Minister Silvio Berlusconi are apparently on sale for £1 million.

Reports in Italian media said that the photographs showed Berlusconi naked in the company of the women and that magazines had refused to publish them as they were taken 'inside his private property.'

However, Berlusconi's legal team Niccolo Ghedini and Paolo Longo has issued a statement which said that 'if the photographs exist they are falsely created and manipulated montages.'

Meanwhile, it also emerged that the offices of one of Italy's top paparazzo photographers Fabrizio Corona had also been broken into in Milan - he claimed in a search for the photographs.

"There was cash and cameras in the office but they were ignored and the only items taken were the hard disks with the picture archives. We don't have the Berlusconi pictures," the Daily Mail quoted Corona as saying.

The 74-year-old has been embroiled in a sex scandal for almost a month after it emerged he was being investigated for having sex with an underage prostitute and sex acts at his infamous 'bunga bunga' parties.