Pakistan's National Cyber Crime Investigation Agency (NCCIA) has arrested Faheem Akram in Lahore, the main suspect in an alleged Rs35 billion scheme selling counterfeit US postage stamps online, according to Geo News. The arrest followed a special tracing operation that lasted ten days.
According to the BBC, a federal grand jury in Florida indicted the 33-year-old last month, and earlier this month the US Postal Inspection Service offered a reward of up to $100,000 for information leading to his arrest.
A $2 label, a $126 million loss
US prosecutors say the suspect, from Khanewal, ran a website called LabelsBank.com that sold counterfeit US postage at a fixed price, usually $2 a label, regardless of a package's weight, size or destination. Buyers shipped parcels far below legitimate rates, leaving the Postal Service to absorb the cost.
The US Attorney's Office said more than 5,200 people bought over 5.1 million fake labels, with losses exceeding $126 million. The website has since been shut down.
16 bank accounts and 35 raids
Geo News reported that the NCCIA's Lahore zone found the website operated from August 2023 to September 2026. Sixteen bank accounts were allegedly used for the transactions: seven in the suspect's name, five in his brother's, two in his wife's and one each in the names of his sister and maternal aunt.
A case has been registered and eight special teams have been formed to investigate across Punjab, Islamabad and Sindh. The teams carried out 35 raids, questioned 47 people and analysed footage from 120 cameras using modern technology including artificial intelligence.
The US charges
Prosecutors have charged him with one count of conspiracy to defraud the United States and to make and sell counterfeit postage, five counts of making and selling counterfeit postage labels and four counts of wire fraud. According to the BBC, each wire fraud count carries a maximum of 20 years in prison.