A former Wells Fargo employee in California is facing serious charges for allegedly stealing nearly a million dollars.
The Alleged Scheme
Tamim Ghulam Haidar, a former operations associate manager, is accused of systematically stealing $947,000 from ATM machines over almost two years (February 2021 to October 2022). He allegedly reported higher cash deposits than he actually made, pocketing the difference.
Covering Losses
Haidar reportedly used the stolen money to cover losses he incurred from foreign currency trading. He allegedly deposited the funds into his own accounts and those he controlled.
Concealing the Crime
Prosecutors say Haidar sometimes used other employees’ login credentials to make deposits, attempting to hide his fraudulent activity and inflated deposit amounts.
The Charges and Potential Sentence
Haidar is charged with embezzlement and money laundering. He faces up to 30 years in federal prison and could be forced to repay the stolen money.
