Bank Employee Sentenced For Embezzlement

Tamim Haidar, a 34-year-old former Wells Fargo employee from Union City, California, was sentenced on June 1 to 18 months in federal prison after admitting he embezzled more than $800,000 from the bank where he worked. The U.S. Attorney’s Office for the Northern District of California said U.S. District Judge Araceli Martinez-Olguin imposed the sentence in Oakland. Prosecutors said Haidar had pleaded guilty on November 7, 2025, to one count of embezzlement by a bank officer or employee and two counts tied to unlawful monetary transactions. The sentence also includes three years of supervised release and an order to pay more than $800,000 in restitution. ### Who is the former bank employee in the case? Union City resident Tamim Haidar was identified by federal prosecutors as the defendant in the case. The Justice Department said he was 34 at the time of sentencing and had worked as an assistant branch manager at a Wells Fargo branch bank. The Northern District of California said the case was announced by U.S. (justice.gov) Attorney Craig H. Missakian and IRS Criminal Investigation Acting Special Agent in Charge David Lowe. Assistant U.S. Attorney Evan M. Mateer prosecuted the case, with assistance from Amala James, according to the release. ### How did prosecutors say the money was taken? (justice.gov) According to Haidar’s plea agreement, he abused his position at the bank to steal money that was supposed to be deposited into ATM machines. Federal prosecutors said he then made false database entries to conceal the thefts. The Justice Department said Haidar transferred the stolen money into his personal bank accounts. (justice.gov) Prosecutors said he used the funds to cover losses he had incurred while engaging in foreign-currency trading. ### What charges did he admit to in court? November 7, 2025, was the date Haidar pleaded guilty in federal court, according to the Justice Department. (justice.gov) The release said he admitted one count under 18 U.S.C. § 656, embezzlement by a bank officer or employee, and two counts under 18 U.S.C. § 1957, engaging in monetary transactions in property derived from specified unlawful activity. The charges, as described by prosecutors, paired the theft from the bank with the later movement of the proceeds through Haidar’s own accounts. The government said those admissions were part of the plea agreement cited in the sentencing announcement. ### Why did the case include money-laundering counts? Two counts in the case were tied not to the initial taking of the money, but to what prosecutors said Haidar did with it afterward. (justice.gov) The Justice Department said he moved the stolen funds into personal accounts, which formed the basis for the unlawful monetary transaction charges. Federal prosecutors did not, in the sentencing release, identify any wider conspiracy or additional defendants. The case as described by the government centered on Haidar’s conduct while he worked inside the bank and his later handling of the proceeds. ### What penalties did the judge impose? Judge Araceli Martinez-Olguin sentenced Haidar to one and a half years in federal prison, the Justice Department said. (justice.gov) The court also ordered a three-year term of supervised release once his prison sentence ends. More than $800,000 in restitution was also ordered, according to the sentencing announcement. (justice.gov) The release did not specify in that summary whether any portion of the loss had already been recovered before sentencing. ### What happens next in the case? August 31, 2026, is the date the Justice Department said Haidar is scheduled to begin serving his prison sentence. (justice.gov) The investigation was conducted by the IRS Criminal Investigation Oakland Field Office, according to prosecutors. Any further proceedings would likely relate to execution of the sentence, supervision after release, or collection of the restitution order described in the judgment. (justice.gov) The next concrete date identified by prosecutors is Haidar’s surrender date at the end of August.