A Pakistani man has been indicted in the United States for allegedly operating a fraudulent website that sold more than 5.1 million counterfeit US Postal Service (USPS) postage labels, reportedly causing losses exceeding $126 million.
According to the US Department of Justice, 33-year-old Faheem Akram, a resident of Khanewal, Pakistan, allegedly ran LabelsBank.com, an unauthorized website that offered counterfeit USPS postage labels for approximately $2 each.
Authorities said the fake labels allowed customers to send packages at significantly lower costs than legitimate USPS rates. The counterfeit postage allegedly worked regardless of a parcel’s weight, size or destination, making the scheme attractive to thousands of customers.
More than 5,200 people reportedly purchased counterfeit postage through the website, according to US authorities. Investigators estimate that the fraudulent labels resulted in more than $126 million in losses for USPS.
Following a court order, US authorities seized the LabelsBank.com domain and shut down the website as part of the investigation.
Akram now faces multiple federal charges related to the alleged operation. Prosecutors have charged him with one count of conspiracy to defraud the United States and to manufacture and sell counterfeit postage stamps.
He also faces five counts involving the alleged production and sale of counterfeit postage labels, along with four counts of wire fraud. The charges remain allegations, and Akram is presumed innocent unless proven guilty in court.
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