A Pakistani man has been indicted in the United States for allegedly running a fake website that sold more than 5.1 million counterfeit US postage labels, causing over $126 million in losses to the US Postal Service (USPS).
According to the US Department of Justice, 33-year-old Faheem Akram of Khanewal, Pakistan, operated LabelsBank.com, an unauthorized website that sold counterfeit USPS postage for around $2 per label.
The labels allegedly allowed customers to ship packages at prices far below legitimate USPS rates, regardless of the package’s weight, size, or destination.
More than 5,200 people reportedly used the website to purchase the counterfeit labels, resulting in more than $126 million in alleged losses for USPS.
US authorities have seized the LabelsBank.com domain and shut down the website following a court order.
Akram faces one count of conspiracy to defraud the United States and to make and sell counterfeit postage stamps, five counts related to making and selling counterfeit postage labels, and four counts of wire fraud.
If convicted, he faces up to five years in prison on the conspiracy and counterfeit postage charges and up to 20 years for each wire fraud count.
The case is being investigated by the US Postal Inspection Service’s Miami Division. Federal prosecutors have stressed that the charges are allegations and that Akram will be presumed innocent unless proven guilty in court.
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