Key facts
- Akram is accused of selling counterfeit US postage labels at a fixed rate of $2 each.
- Over 5,200 individuals allegedly purchased more than 5.1 million counterfeit labels.
- He faces charges of conspiracy to defraud the US and wire fraud.
- Conviction could lead to a maximum of 20 years in prison per wire fraud count.
Pakistan's cybercrime agency has arrested Faheem Akram, a man accused by US authorities of orchestrating a counterfeit postage scheme that cost the US Postal Service $126 million. Akram, from Khanewal, Pakistan, allegedly operated LabelsBank.com since 2023, selling over five million fake shipping labels to more than 5,200 customers. US prosecutors stated that the counterfeit labels allowed customers to ship packages at significantly reduced rates, leading to substantial revenue loss for the Postal Service. The website has since been shut down. The US Postal Inspection Service had previously offered a reward for information leading to Akram's arrest. He faces charges including conspiracy to defraud the United States and wire fraud.