Prosecutors: His Fake $2 Labels Cost the USPS $126M

A Pakistani man accused of turning bogus postage into a nine-figure loss for the USPS has been taken into custody. Pakistan's cybercrime unit on Tuesday arrested 33-year-old Faheem Akram, who US authorities allege ran LabelsBank.com, a site that allegedly sold more than 5 million fake shipping labels to more than 5,200 customers between August 2023 and September 2026.

Akram was indicted in Florida last month on conspiracy, counterfeit postage, and wire fraud charges after what prosecutors describe as a scheme to sell what were typically $2 labels that worked regardless of a package's weight, size, or destination, reports the BBC. They allege the scheme cost the USPS an estimated $126 million; the AP reports that figure represents alleged losses to the USPS rather than proceeds from the website's sales. Earlier this month, the US Postal Inspection Service had offered up to $100,000 for information leading to his arrest. If convicted, the DOJ says Akram faces a maximum penalty of five years in prison on each of six conspiracy and counterfeit postage counts and 20 years in prison on each of four wire fraud counts.