A former Wells Fargo assistant branch manager from Union City is headed to federal prison after admitting he quietly siphoned off more than $800,000 in bank funds. U.S. District Judge Araceli Martinez‑Olguin yesterday sentenced 34-year-old Tamim Haidar to 18 months in prison, three years of supervised release and ordered him to pay restitution.
According to a press release from the U.S. Attorney's Office, Haidar pleaded guilty on Nov. 7, 2025, to one count of violating 18 U.S.C. § 656 and two counts of violating 18 U.S.C. § 1957. The office said the court ordered him to repay more than $800,000 and that he is scheduled to begin serving his sentence on Aug. 31, 2026.
Local coverage filled in how prosecutors say the scheme worked. Haidar allegedly skimmed cash intended for ATM deposits, covered the shortages with bogus database entries, and funneled the money into his own accounts, according to a CBS San Francisco report. Prosecutors say he used the stolen funds to cover losses from foreign currency trading. Not exactly a Wall Street success story.
How prosecutors say he hid the cash
Court filings and reports indicate that Haidar, who had access to the branch cash line as an assistant manager, recorded deposits while quietly diverting bills intended for loading into ATMs, according to the San Francisco Chronicle. The documents say he then entered false figures to conceal the missing money and moved the stolen cash into his personal accounts as his trading losses piled up.
Regulatory action and investigation
In January, the Office of the Comptroller of the Currency issued an order of prohibition stating that Haidar had embezzled bank funds and falsified records, according to the regulator's release, meaning he is barred from working in the banking industry. The sentencing followed an investigation by the IRS Criminal Investigation Oakland Field Office and prosecution by Assistant U.S. Attorney Evan M. Mateer, as noted by the Office of the Comptroller of the Currency.
Legal implications
Haidar pleaded guilty under statutes that target insider theft and the movement of dirty money. Federal law, 18 U.S.C. § 656, as explained by Cornell Law School, criminalizes embezzlement and the misapplication of funds by bank officers or employees. Another statute, 18 U.S.C. § 1957, summarized by Cornell Law School, bars substantial monetary transactions involving property derived from certain crimes. Both carry potential prison time and financial penalties, and courts often pair incarceration with restitution orders and supervised release, which is exactly how Haidar’s sentence was structured.
The case began after internal discrepancies at the branch were flagged and triggered a federal probe, according to the coverage. With Haidar due to report to prison on Aug. 31, 2026, the investigation is effectively closed, leaving a pointed reminder that front-line bank access and internal controls are often where financial crimes start and, eventually, where they unravel.
