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Published : 08 Jan 2026, 05:07 PM
The Anti-Corruption Commission (ACC) has approved a case against 13 individuals, including Orion Group Chairman Mohammad Obaidul Karim, on charges of misappropriating over Tk 5 billion through “loan fraud” involving Mercantile Bank.
ACC Director General Md Akhtar Hossain on Thursday informed journalists about the decision to file the case.
He also said more than one former and current officer of the bank will be prosecuted.
The ACC investigation found that the accused had colluded to approve a loan against insufficient collateral.
Violating banking laws, the investigation by the anti-graft watchdog said, two foreign-currency term loans taken from the bank’s offshore banking unit were brought under the domestic banking unit and converted into two new term loans in local currency.
Later, under the pretext of settling the liability of a classified loan, a new loan was created and the loan tenure was extended by another seven years, which, according to the allegations, provided undue benefits to the client.
Approximately Tk 5 billion was “embezzled” through the rescheduling of the loan.
A three-member body investigated the matter. The case will be filed under the Penal Code, the Prevention of Corruption Act, 1947, and the Money Laundering Prevention Act, 2012.
The case will also be filed against Orion Group’s Managing Director Salman Obaidul Karim, and its Director Arzuda Karim.
The ACC has also decided to issue an order for the Orion Group chairman and his wife Arzuda Karim to submit wealth statements.
