VIBRATO NEWSROOM
Man arrested in Pakistan over $126m counterfeit postage scheme
A man has been arrested in Pakistan and accused of running a counterfeit postage operation costing the US Postal Service $126m (£94m).
Faheem Akram, 33, from the city of Khanewal in the country’s eastern Punjab province, was arrested on Tuesday as part of raids across the country.
He allegedly operated LabelsBank.com, an unauthorised website which sold more than 5.1 million counterfeit postage labels to more than 5,200 customers.
They typically cost $2 (┬ú1.50) each, regardless of the package’s weight, size or delivery address.
The counterfeit labels allowed customers to ship packages at prices far below legitimate postal rates.
Akram ran the website from August 2023 until September 2026, according to Atif Ameer, a senior official at the National Cyber Crime Investigation Agency.
He used 16 bank accounts for the business, which he held alongside his brother, wife, sister and aunt, Mr Ameer added.
Akram was indicted by a federal grand jury in the southern district of Florida, the US Attorney’s Office for the district confirmed in a statement on 28 September.
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It is not yet clear whether he will be extradited to the US or face trial in Pakistan.