Pakistan’s cybercrime authorities have arrested Faheem Akram, a 33-year-old man accused by US prosecutors of operating a counterfeit postage business that allegedly cost the United States Postal Service (USPS) $126 million.
Akram, a resident of Khanewal in Pakistan, allegedly ran LabelsBank.com, a website that sold counterfeit US shipping labels to customers from 2023 onwards. The operation reportedly enabled thousands of people to send packages at prices significantly lower than legitimate postal rates.
According to the US Attorney’s Office for the Southern District of Florida, more than 5,200 customers purchased over 5.1 million counterfeit shipping labels through the website. The labels were allegedly sold for around $2 each, irrespective of the package’s weight, dimensions or destination, depriving the postal service of substantial revenue and shipping charges.
A federal grand jury in Florida indicted Akram last month over his alleged involvement in the scheme. Authorities have since shut down the website.
Earlier this month, the US Postal Inspection Service announced a reward of up to $100,000 for information leading to his arrest as investigators pursued the case.
Akram faces multiple federal charges, including conspiracy to defraud the United States and produce or sell counterfeit postage, five counts related to counterfeit postage labels, and four counts of wire fraud.
If convicted, he could face up to five years in prison for the conspiracy and counterfeit postage offences. Each wire fraud charge carries a maximum sentence of 20 years, according to the US Attorney’s Office.
The arrest marks a development in an investigation into an alleged large-scale operation involving counterfeit postal products and financial losses to the US postal system. The charges remain allegations, and Akram is presumed innocent unless proven guilty in court.
