A Wells Fargo employee abused his insider position to steal hundreds of thousands of dollars from the bank, according to the US Department of Justice.
Office of the United States Attorney for the Northern District of California he says Tamim Haidar withdrew more than $800,000 from the bank while working as a branch assistant at the trillion dollar lender in Union City, California.
Haidar work at the Union City branch as an assistant branch manager from November 22nd of 2013 to October 5th, 2022.
They committed the offenses between March 15, 2022 and October 5, 2022.
“Haidar admitted that he stole the money that was supposed to be deposited in the ATM machine, and that he wrote false documents to cover up the theft. Haidar admitted that he transferred the stolen money to his bank account, and used the stolen money to spend the money he earned by trading in foreign currencies.”
Haidar, who pleaded guilty to one count of embezzling money from a bank employee and two counts of “trading money in property obtained from illegal activity,” will now serve a year and a half in prison.
He will also be on supervised release for three years. Haidar will also have to pay more than $0.8 million in restitution.
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