A Wells Fargo employee abused his internal position to steal hundreds of thousands of dollars from the bank, according to the US Department of Justice.
Office of the United States Attorney for the Northern District of California He says Tamim Haider drained more than $800,000 from the bank while working as an assistant branch manager at the trillion-dollar lender’s branch in Union City, California.
Haider It worked At the Union City Branch as Assistant Branch Manager from approximately November 22, 2013 to October 5, 2022.
The crime was committed between March 15, 2022 and October 5, 2022.
“Haider admitted that he stole money that was supposed to be deposited in ATMs, and that he made false entries in the database to hide his theft. Haider admitted that he transferred the money he stole to his personal bank accounts, and used the stolen money to compensate for the losses he incurred while practicing foreign exchange trading.”
Haider, who pleaded guilty to one count of embezzlement by a bank employee and two counts of “engaging in cash transactions in property derived from specified unlawful activity”, will now serve a year and a half in prison.
He will also be on probation for three years. Haider will also have to pay more than $0.8 million in compensation.
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