Pakistani authorities have arrested a 33-year-old man accused of operating a massive online counterfeit postage scheme that allegedly caused losses exceeding $126 million to the United States Postal Service (USPS).
According to the Associated Press, Faheem Akram was arrested on October 20 following a weeks-long investigation involving raids across several parts of Pakistan.
Akram, a resident of Khanewal in Punjab province, was indicted by a federal grand jury in Florida in September.
US prosecutors allege that he operated a website called LabelsBank.com, which sold more than 5.1 million counterfeit US postage labels to over 5,200 customers.
The fake shipping labels were reportedly sold for approximately $2 each, regardless of a package’s weight, size or destination, allowing customers to send parcels at significantly reduced rates.
According to US authorities, the operation caused more than $126 million in losses to the Postal Service. The amount represents estimated losses rather than the money earned by the suspect.
Pakistani investigators said the website operated between August 2023 and September 2026, with transactions linked to 16 bank accounts belonging to Akram and members of his family.
The US authorities have seized and shut down the website.
Akram faces several federal charges, including conspiracy to defraud the United States, selling counterfeit postage labels and wire fraud. Some charges carry potential prison sentences of up to 20 years.
It remains unclear whether he will be extradited to the United States or prosecuted in Pakistan. (Newswire)