Dhaka, Jan. 8 -- Corruption Commission (ACC) on Thursday decided to file a case against 12 people including Orion Group Chairman Mohammad Obaidul Karim and 11 top bank officials of Mercantile Bank over allegations of embezzling over Tk 507 crore by illegally obtaining loan facilities.

The decision was taken at the ACC headquarters on Thursday, ACC Director General Md Akhtar Hossain said.

According to the investigation report, the accused allegedly colluded to violate banking laws and regulations by approving loans without adequate collateral, converting foreign currency loans from the offshore banking unit into domestic unit loans, creating new loans to repay classified ones, and unreasonably extending loan tenures by up to seven years....