Former Bank Employee Sentenced To 18 Months In Prison For Embezzling More Than $800,000

OAKLAND - Tamim Haidar was sentenced today to one and a half years in federal prison for embezzlement and money laundering. U.S. District Judge Araceli Martinez-Olguin handed down the sentence.

Haidar, 34, of Union City, California 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 of a Wells Fargo branch bank to embezzle more than $800,000 from the bank. Haidar admitted that he would steal money that was supposed to be deposited into ATM machines, and that he made false database entries to hide his theft. Haidar admitted that he transferred the money he stole to his personal bank accounts, and used the stolen funds to make up losses he incurred engaging in foreign currency trading.

United States Attorney Craig H. Missakian and IRS Criminal Investigation Acting Special Agent in Charge David Lowe made the announcement.

In addition to the prison term, Judge Martinez Olguin also sentenced Haidar to a three-year period of supervised release and ordered Haidar to pay more than $800,000 in restitution. The defendant will begin serving the sentence on August 31, 2026.

Assistant U.S. Attorney Evan M. Mateer is prosecuting the case with the assistance of Amala James. The prosecution is the result of an investigation by the IRS Criminal Investigation Oakland Field Office.