EddieJayonCrypto
10 Jun 25
A former Wells Fargo employee in California, Tamim Ghulam Haidar, is charged with embezzling $947,000 from the bank's ATMs between February 2021 and October 2022. Haidar, a former branch operations associate manager, allegedly reported depositing more money into ATMs than he actually did, pocketing ...
Former Wells Fargo employee Tamim Ghulam Haidar is charged with embezzling $947,000 from the bank's ATMs over nearly two years by underreporting deposits. Between February 2021 and October 2022, Haidar, a former branch operations associate manager in California, allegedly deposited less money in ATMs than reported, pocketing the difference for personal use.
Haidar is accused of using the stolen funds to cover losses from foreign currency trading. Legal documents reveal that he deposited the ill-gotten gains into bank accounts he controlled and sometimes used other employees' credentials to conceal his fraudulent actions. These measures allegedly helped him input false and inflated deposit amounts without immediate detection.
The charges against Haidar include embezzlement by a bank employee and unlawful monetary transactions involving assets derived from illicit activity. Facing up to 30 years in federal prison, prosecutors are seeking forfeiture of the stolen funds. The case underscores the risks financial institutions face when internal controls are circumvented and highlights the complexities of tracking laundering of embezzled funds through investment losses.