Conservative Sir Malcolm Rifkind and Labour's Jack Straw have been suspended from their parliamentary parties after being secretly filmed apparently offering their services to a private company for cash.
Both say they have broken no rules, after reporters for the Daily Telegraph and Channel 4's Dispatches posed as staff of a fake Chinese firm.
The MPs have referred themselves to Parliament's standards watchdog.
Speaking to the Daily Politics programme, Sir Malcolm said: "I'm livid, I'm angry, and I'm going to make sure these unfounded allegations are put in the dustbin where they belong."