ISLAMABAD — Pakistan's cybercrime agency has arrested Faheem Akram, a man accused of orchestrating a counterfeit postage operation that caused an estimated $126 million in losses to the U.S. Postal Service. Akram, 33, from Khanewal, Pakistan, was apprehended following an international investigation.
U.S. prosecutors alleged Akram operated LabelsBank.com, a website that sold fake U.S. postage since 2023. The site offered counterfeit shipping labels for $2 each, regardless of a package's weight, size or destination.
This pricing model allowed customers to ship packages at costs significantly below legitimate rates. The scheme resulted in substantial lost revenue and shipping costs for the U.S. Postal Service, according to the U.S. Attorney's Office for the Southern District of Florida.
An investigation revealed that more than 5,200 individuals purchased over 5.1 million counterfeit shipping labels through the fraudulent website. Authorities have since shut down LabelsBank.com.
Akram was indicted by a federal grand jury in Florida last month. The indictment includes one count of conspiracy to defraud the United States and to make and sell counterfeit postage stamps. He also faces five counts of making and selling counterfeit postage stamp labels and four counts of wire fraud.
The U.S. Postal Inspection Service offered a reward of up to $100,000 for information leading to Akram's arrest earlier this month. The Pakistani cybercrime agency's action comes after the reward was publicized.
If convicted, Akram faces a maximum of five years in prison for the conspiracy and counterfeit postage counts and a maximum of 20 years for each wire fraud count, the U.S. Attorney's Office said.
