Pakistani authorities arrest man accused in $126m US postal fraud

Pakistani cybercrime investigators have arrested Faheem Akram, 33, accused of running a counterfeit postage operation that US prosecutors say caused over $125m in losses.

• Akram was arrested Tuesday following raids across Pakistan and is in custody pending trial or extradition.
• He was indicted last month by a federal grand jury in Southern District of Florida on charges including conspiracy, counterfeiting and four counts of wire fraud.
• Prosecutors allege his website LabelsBank.com sold more than 5.1 million counterfeit labels to over 5,200 US customers since August 2023.
• US prosecutors said the figure reflects Postal Service losses, not the website's proceeds.