Pakistan arrests man hunted by US over $126m postage fraud case
Summary
Pakistan's cybercrime agency arrested Faheem Akram, who is accused of running a fake stamp operation that caused $126 million in losses to the US Postal Service. He allegedly sold over five million counterfeit shipping labels through a website targeting US customers.Key Facts
- Faheem Akram was arrested in Pakistan for selling fake US postage stamps online.
- The counterfeit operation caused an estimated $126 million in losses to the US Postal Service.
- Akram sold more than five million fake shipping labels to over 5,200 US customers.
- His website, LabelsBank.com, was shut down by authorities.
- The US Postal Inspection Service offered a $100,000 reward for information leading to his arrest.
- Akram faces charges including conspiracy to defraud the US, selling counterfeit stamps, and wire fraud.
- If convicted, he could be sentenced to up to 5 years for conspiracy and counterfeit charges, and up to 20 years for each wire fraud charge.
- The operation reportedly sold fake labels at a fixed rate, allowing customers to ship packages cheaper than normal rates.
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