Israeli President Ezer Weizman has no intention of resigning, according to lawyers representing him during a criminal investigation into allegations of illegally dishonestly cash as a minister.

In a nationally-televised news conference, Yaacov Weinroth said the president was "innocent, unblemished, and unsullied by any of the accusations levelled against him".

Pressure for the president to step aside grew when the investigation into the alleged financial improprieties was announced by Israel's attorney-general on Thursday.

The president has admitted receiving hundreds of thousands of dollars from French textile magnate Edouard Sarousi, but he said the payments were gifts from a friend, without strings attached.

Justice Minister Yossi Beilin advised the president to "take leave" from his post for the duration of the inquiry.

Although the president's camp has staged an aggressive fight-back, BBC Jerusalem correspondent Paul Adams says Mr Weizman is looking more and more vulnerable.

Journalist Yoav Yitzhak, who originally revealed Mr Weizman's money-taking, said on Israeli TV that he had proof that the president accepted $3.5m to support Shimon Peres in a successful 1984 bid to become prime minister.

Police investigation

The Justice Ministry says it had new evidence indicating "a relationship of a business nature between Mr Weizman and a company connected to Mr Sarousi" that continued after he took office as a cabinet minister.

In Thursday's statement, the ministry said the attorney-general had ordered a formal police investigation in co-operation with tax authorities.

The president's lawyers were told of the decision on Wednesday night, the ministry said.

A presidential aide, Arieh Shumer, said that President Weizman had asked that he be treated "like any other citizen, without privileges".

"The president asks that the investigation be concluded as soon as possible, without harming its contents, of course," Mr Shumer said.

Cash gifts

Last month, Yoav Yitzhak alleged that President Weizman received $314,000 from Mr Sarousi between 1988 and 1993, the year he was elected president.

Mr Weizman, 75, who holds a largely ceremonial role, acknowledged receiving money, but said it was less than the figure alleged and that the donations were legal.

Mr Weizman says he consulted his lawyer at the time and was told there was no need to report or pay taxes on the money.

President Weizman's aides have said most of the money from Mr Sarousi was spent on medical treatment for his son Shaul, who was badly wounded while serving near the Suez Canal in 1969 and died in a car crash in 1991.

Large sums

On Thursday, Israeli television said President Weizman had also received $900,000 from a foreign source which had still to be identified.

The television said that the transfer had been discovered by a special government team set up to probe the original reports, from documents in the possession of President Weizman's lawyer Hanina Brandes.

Under Israeli law anyone holding public office is required to officially declare the receipt of large sums of money.