Pakistan arrests man hunted by US over $126m postage fraud case
Pakistan’s cybercrime agency has arrested Faheem Akram, who is accused by US prosecutors of running a website that sold counterfeit postage. The alleged scheme caused $126 million in losses to the US Postal Service, and the site has been shut down.
Prosecutors say Akram, 33, operated LabelsBank.com from Pakistan and sold labels for about $2 each, regardless of a parcel’s weight, size or destination. More than 5,200 people allegedly bought over 5.1 million labels; he faces charges including conspiracy, counterfeiting and wire fraud, with potential prison terms of up to 20 years on each wire fraud count if convicted.
- Pakistan has arrested a man accused of a US postage fraud scheme.
- Prosecutors say the scheme caused $126 million in postal losses.
- More than 5.1 million counterfeit labels were allegedly sold.