Wells Fargo Staffer Nabbed in $1M ATM Heist—Faces Three Decades Behind Bars

Another day, another banking scandal—this time with a side of cold hard cash. A Wells Fargo employee just got caught with their hands in the digital cookie jar, allegedly swiping nearly $1 million straight from ATMs.

Theft 101: How to Lose Your Freedom in 30 Years Flat

Forget high-tech crypto hacks—this was old-school embezzlement. The perpetrator bypassed safeguards (or just exploited lax ones) to pull off what prosecutors call a ''brazen'' cash grab. Now they''re staring down a 30-year sentence—roughly $33,333 per year if you''re doing the math.

Banking Irony at Its Finest

Nothing says ''trust the financial system'' like employees robbing their own employer''s machines. Maybe Wells Fargo should''ve spent less on those ''ethical banking'' ads and more on internal controls. Just a thought.

• A former Wells Fargo branch operations manager has been accused of stealing approximately $947,000 from ATM machines over nearly two years.
• He allegedly manipulated banking system entries and withheld cash from ATM deposits. His charges could result in up to 30 years in prison.

Wells Fargo, one of the top financial institutions in the world, is currently undergoing scrutiny for internal control issues. An employee of the financial establishment has allegedly stolen almost $1 million from the company’s crypto in a desperate attempt to cover his own significant losses from trading.

According to a report shared by a major news outlet, the San Francisco Chronicle, a man who worked at the company embezzled about $947,000 from ATM machines in Union City.

The suspect, whose name is Tamim Ghulam Haidar, was a former branch operations associate manager at the bank. When he was caught and arrested, the charges were that he committed the theft “knowingly and intentionally.” The details of the trial also said that he has consistently been stealing the company’s money for almost two years now. The case has been filed in the U.S. District Court for the Northern District of California.

How Haidar Carried Out the Wells Fargo Theft and the Charges Against Him 

From early 2021 till late 2022, Haidar, who was in charge of figures, entered incorrect amounts into the banking system. He also didn’t put the right amount of stated cash into the ATM machines.

Instead, he WOULD take the extra money from the money he was supposed to put into the ATMs and put it into his own personal accounts. He would then use that money to cover or make up for the money he lost from trading the foreign exchange (FX) market. Sometimes, Haidar would even use the logins of other bank employees to steal. He would hide the screen from them to keep secret that he was putting in fake, higher dollar amounts.

As of the time of writing, Haidar is facing charges for theft by a bank worker. He is also facing charges for using money from illegal acts. He could spend up to 30 years in federal prison. The government also seeks to get back the money he allegedly stole.

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