The French youngster was recently pulled over by the authorities for a driving offence, but has moved to dismiss rumours that he claimed to be his team-mate when questioned
The 17-year-old striker, who does not own a driving license, moved to San Siro this summer after being linked with a host of English clubs, and has already attracted controversy.
However, he has now moved to deny that he lied about his identity, and has apologised to his employers for his actions.
"I made a mistake, but I never said I was Traore, only that it was his car. I apologise to all the fans, [CEO Adriano] Galliani [coach Massimiliano] Allegri and my wonderful club."
Milan have delayed taking any action over the player until a police report has been finalised.