MOSCOW, April 17 - RAPSI. The police have identified a criminal group suspected of stealing a minimum of $16.8 million from the federal budget, the Interior Ministry's Economic Security Department reported on Tuesday.

The funds were allocated for the Rosagroleasing company.

"We have identified an organized group suspected of systematic stealing from the federal budget funds allocated for Rosagroleasing" between 2007 and 2009. The group members are believed to have received over 500 million rubles ($16.8 million) for sham equipment supplies for distilleries and cattle farms," states the press release.

According to the ministry, it is verifying allegations that the groups entities received over four billion rubles ($134 million) from Rosagroleasing from 2007 to 2009.

Rosagroleasing open joint stock company was founded in February 2001. Its charter capital amounts to 78.822.5 billion rubles ($2.7 billion) and a 99.99% stake in the company is held by the state.