When inserting Images via the OLE function, the image is inserted on the top right side of the workspace, not at a specific point.
Also, the image is not displayed and if you “open” it, AutoCAD will not find it.
OLE is not meant to insert images.
Insert images via the “Attach” function, or by drag and drop. Additionally, one can use the Windows Clipboard as shown in the following Autodesk Screencast recording:
AutoCAD; AutoCAD LT;
2017; 2012; 2013; 2014; 2015; 2016; 2018;