Pakistan arrests one over alleged $126 million-plus loss to US Postal Service

Pakistani authorities have arrested 33-year-old Faheem Akram on allegations that he caused a loss of more than $126 million to the US Postal Service.

Akram is accused of running a website that sold fake postage labels online. The online sale of these counterfeit labels is alleged to have caused a major financial loss to the US Postal Service.

The accused faces charges of conspiring to defraud the United States, manufacturing and selling counterfeit postage stamps, manufacturing and selling counterfeit postage stamp labels, and wire fraud.

The alleged loss to the US Postal Service is said to exceed $126 million. Pakistani authorities arrested Akram on these charges.