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Pakistani authorities arrest man accused in $126 million US postage fraud scheme
Investigators say the site sold more than 5.1 million counterfeit postage labels and caused over $126 million in losses to the U.S. Postal Service.
- On Tuesday, the National Cyber Crime Investigation Agency arrested Faheem Akram in Lahore, alleging he masterminded an international online fraud scheme worth Rs.35 billion.
- Investigators allege Akram operated LabelsBank, an unauthorized website selling more than 5.1 million counterfeit United States postage labels to over 5,200 customers at $2 each.
- Authorities conducted raids at 35 locations across Punjab, Islamabad, and Sindh, while United States prosecutors report the scheme caused more than $126 million in losses to the Postal Service.
- Akram was indicted by the United States Attorney's Office in the Southern District in Florida on Sept. 28, following Director General Syed Ali Nasir Rizvi's zero-tolerance policy on cyber fraud.
- It remains unclear whether Akram will face trial in Pakistan or be extradited to the United States, though the NCCIA Multan Circle separately recovered Rs2million for a hacking victim.
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PAKISTANI authorities have arrested a man who was running an online sale of fake US postage labels.
·Zagreb, Croatia
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Associated Press News+14 Reposted by 14 other sources
Pakistani authorities arrest man accused in $126 million US postage fraud scheme
Pakistan has arrested a man accused of running an online counterfeit postage operation that U.S. prosecutors say caused more than $126 million in losses to the U.S.
·New York, United States
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Coverage Details
Total News Sources18
Leaning Left10Leaning Right3Center5Last UpdatedBias Distribution55% Left
Bias Distribution
- 55% of the sources lean Left
55% Left
L 55%
C 28%
R 17%
Factuality
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