OAKLAND, Calif. — A former Wells Fargo assistant branch manager was sentenced to 18 months in federal prison for embezzling more than $800,000 from the bank and laundering the proceeds through foreign currency trading, the U.S. Attorney’s Office for the Northern District of California announced.
Tamim Haidar, 34, of Union City, California, stole cash that was designated for ATM machines and made false database entries to conceal the theft, according to his plea agreement. He then transferred the stolen funds to personal bank accounts and used the money to cover losses from foreign currency trading. U.S. District Judge Araceli Martinez-Olguin imposed the sentence along with a three-year period of supervised release and ordered Haidar to pay more than $800,000 in restitution.
Haidar pleaded guilty on Nov. 7, 2025, to one count of embezzlement by a bank officer or employee under 18 U.S.C. § 656 and two counts of engaging in monetary transactions in property derived from specified unlawful activity under 18 U.S.C. § 1957. His plea agreement stated he admitted to “abusing his position as an assistant branch manager of a Wells Fargo branch bank to embezzle more than $800,000 from the bank.”
United States Attorney Craig H. Missakian and IRS Criminal Investigation Acting Special Agent in Charge David Lowe announced the sentencing. Assistant U.S. Attorney Evan M. Mateer prosecuted the case with the assistance of Amala James, following an investigation by the IRS Criminal Investigation Oakland Field Office.
Haidar is scheduled to begin serving his sentence on Aug. 31, 2026.