Mr Aung Thaung was minister of industry for 14 years under the military junta that ruled the country for decades until 2011, DPA news agency reported. He was accused of abusing that position to amass a considerable fortune, and named by The Irrawaddy, a magazine dedicated to Myanmar news, one of the country's richest men.
He was a hardliner in the ruling Union Solidarity and Development Party, which was behind a 2003 attack on pro-democracy figures including Daw Aung San Suu Kyi, the Nobel Peace laureate who now leads the country's opposition.
The United States blacklisted Mr Aung Thaung last year on grounds of undermining political reforms and "perpetuating violence". It froze his US-based assets and barred US citizens from doing business with him.
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