Rome, February 1 - Italian President Giorgio Napolitano on Friday scolded the media over its reporting of investigations into alleged fraud at troubled bank Monte dei Paschi di Siena (MPS). Napolitano told representatives of the country's journalists' guild that the media had received a "strong rebuke" from prosecutors in Siena over reports about the case. He said it was important to avoid "short-circuits" between the press and the judicial system. On Thursday the Tuscan prosecutors denied media reports that their investigation was escalating to include the extremely serious allegation of criminal association. They said in a statement that the reports were "unfounded", stressing that they were "considering the opening of criminal procedures for insider trading and market rigging" against those behind the reports, given MPS is a company listed on the stock exchange.