Pakistan Arrests Suspect in $126M Postage Fraud

Pakistani authorities have arrested Faheem Akram, a 33-year-old man accused by US prosecutors of running an online counterfeit postage operation that caused more than $125 million in losses to the US Postal Service. A senior official with Pakistan’s National Cyber Crime Investigation Agency said Akram was arrested Tuesday following a broad search operation and raids across the country. A federal grand jury in Florida indicted Akram last month. Prosecutors allege that he operated a fraudulent website that sold more than 5.1 million counterfeit US postage stamps. The stamps reportedly cost about $2 each and enabled customers to ship packages for less than official postal rates. Officials clarified that the estimated loss—reported as more than $124 million in one account—refers to losses suffered by the Postal Service, not the website’s proceeds. Pakistani investigators found that the website had been operating since August 2023 and that 16 bank accounts, including accounts belonging to Akram and several family members, were used in connection with the operation. The charges include conspiracy to defraud the United States, making and selling counterfeit postage stamps, and four counts of wire fraud. According to the US Postal Service, each wire-fraud count could carry a sentence of up to 20 years, while the conspiracy charge could carry up to five years. Akram remains in custody in Pakistan. It is not yet clear whether he will be tried there or extradited to the United States.

Pakistan’s cybercrime agency has arrested Faheem Akram, a 33-year-old Pakistani man accused by US authorities of operating a counterfeit postage business that caused an estimated $126 million in losses to the US Postal Service. Prosecutors say Akram ran LabelsBank.com and, since 2023, sold fake US postage and shipping labels to customers at prices far below legitimate rates. The labels were allegedly sold for about $2 each, irrespective of a package’s weight, size, or destination, allowing customers to ship parcels more cheaply while depriving the Postal Service of revenue and leaving it with shipping costs. A federal grand jury in Florida indicted Akram last month. According to the US Attorney’s Office for the Southern District of Florida, more than 5,200 people bought over 5.1 million counterfeit labels through the operation. Authorities have shut down the website. Earlier this month, the US Postal Inspection Service offered a reward of up to $100,000 for information leading to Akram’s arrest. Akram faces one count of conspiracy to defraud the United States and make and sell counterfeit postage stamps, five counts related to making and selling counterfeit postage stamp labels, and four counts of wire fraud. If convicted, he could receive up to five years in prison for the conspiracy and counterfeit-postage charges, and up to 20 years for each wire-fraud count. The allegations and potential penalties are reported by US prosecutors; the article does not report a conviction.

Pakistani authorities arrested Faheem Akram, 33, on Tuesday after a weeks-long search involving raids in several parts of the country. Akram, who lives in Khanewal in eastern Punjab province, is accused of operating an online counterfeit-postage business that U.S. prosecutors say caused more than $126 million in losses to the U.S. Postal Service. Atif Ameer, a senior official with Pakistan’s National Cyber Crime Investigation Agency, announced the arrest. A federal grand jury in the Southern District of Florida indicted Akram, according to a September 28 statement from the U.S. Attorney’s Office for the district. Prosecutors allege that he ran LabelsBank.com, an unauthorized website that sold more than 5.1 million counterfeit postage labels to over 5,200 customers. The labels generally cost $2 each regardless of a package’s weight, size, or destination, allowing customers to send packages at prices substantially below legitimate postal rates. The resulting $126 million figure is an estimate of alleged losses to the Postal Service, including lost revenue and shipping costs; it does not represent the website’s sales proceeds. Ameer said Pakistani investigators determined that the website operated from August 2023 through September 2026 and that 16 bank accounts were used for the business. The accounts included ones held by Akram and several relatives: his brother, wife, sister, and aunt. The article says it was not clear whether Akram would be extradited to the United States or tried in Pakistan. The allegations are attributed to U.S. prosecutors; the article does not report a conviction or the outcome of any extradition or trial proceedings.