Pakistani authorities arrest man accused in $126m US postage fraud

Pakistani authorities have arrested 33-year-old Faheem Akram, accused of running an online counterfeit-stamp operation that caused the US Postal Service more than $125m in losses. Indicted last month in Florida, he allegedly sold more than 5.1 million fake stamps for about $2 each, allowing customers to mail packages below official rates. Pakistani investigators say the website had operated since August 2023 and used 16 bank accounts, including accounts belonging to family members. Akram remains in custody in Pakistan, and it is unclear whether he will be tried there or extradited to the US; he faces up to 20 years in prison for each wire-fraud count.