MOSCOW, November 29 - RAPSI. The police are checking information on the new embezzlement of funds from Vnesheconombank (VEB), the Interior Ministry has reported on Thursday. The embezzlement was uncovered as part of the investigation into the case against VEB First Deputy Chairman Anatoly Ballo.

"According to the investigators, VEB granted credit to Resad in August 2008. According to the investigators preliminary data, the allocated credit funds were embezzled through a special financial scheme using a subsidiary company," the police said in a press release.

A criminal case has not yet been initiated into the matter. The media earlier reported that 4.5 billion rubles ($144.5 million) were stolen.

The ministry has stated that the Main Investigative Department is looking into the matter.

A criminal case on the embezzlement of $14 million has already been initiated against Ballo. According to investigators, he and his accomplices stole funds in 2008 that were part of the credit granted to Evraziyskiy to purchase a 100-percent stake in Yugvodokanals charter capital. VEB has been Evraziyskiy's major shareholder since 2006. Investigators found that the stolen funds were deposited into Swiss bank accounts and charged a VEB top manager with fraud. Initially, Ballo was brought into the case as a witness, but a separate case was later opened against him.