OAKLAND, California — Tamim Haidar, a 34-year-old from Union City, California, has been sentenced to one and a half years in federal prison for embezzlement and money laundering.
Haidar pleaded guilty on November 7, 2025, to one count of violating 18 U.S.C. § 656 – Embezzlement by a Bank Officer or Employee and two counts of violating 18 U.S.C. § 1957 – Engaging in Monetary Transactions in Property Derived from Specified Unlawful Activity. According to the plea agreement, Haidar admitted to abusing his position as an assistant branch manager at a Wells Fargo branch to embezzle more than $800,000. He confessed to stealing money intended for ATM deposits and making false database entries to conceal his theft. Haidar also admitted to transferring the stolen funds to his personal accounts and using them to cover losses from foreign currency trading.
The sentence was handed down by U.S. District Judge Araceli Martinez-Olguin. In addition to the prison term, Haidar was sentenced to a three-year period of supervised release and ordered to pay more than $800,000 in restitution. Haidar will begin serving his sentence on August 31, 2026…