Pakistani authorities have arrested a man accused of operating an online counterfeit postage scheme that U.S. prosecutors allege resulted in more than $126 million in losses to the U.S. Postal Service. The arrest occurred Tuesday following a search that spanned several parts of the country.
Faheem Akram, 33, was indicted by a federal grand jury in the Southern District of Florida. According to the U.S. Attorney’s Office for the district, Akram operated LabelsBank.com, an unauthorized website that sold over 5.1 million counterfeit postage labels to more than 5,200 customers. These labels were reportedly sold for approximately $2 each, irrespective of a package’s weight, size, or destination.
The counterfeit labels allowed customers to ship packages at significantly lower costs than legitimate postal rates, leading to lost revenue and increased shipping expenses for the Postal Service. The $126 million figure represents the alleged losses incurred by the Postal Service, not the revenue generated by the website.
Pakistani investigators found that Akram ran the website from August 2023 to September 2026. He utilized 16 bank accounts for the business, including accounts held by his brother, wife, sister, and aunt. It remains unclear whether Akram will be extradited to the United States or face trial in Pakistan.