India, Oct. 22 -- A 33-year-old Pakistani man has been arrested for allegedly running an online counterfeit postage operation that caused more than $126 million in losses to the US Postal Service (USPS), Pakistani authorities said on Tuesday.

According to a report by the New York Post, Faheem Akram, a resident of Khanewal in Pakistan's eastern Punjab province, was arrested following a weekslong search involving raids across several parts of the country, Atif Ameer, a senior official with the National Cyber Crime Investigation Agency, told reporters. Akram was indicted by a federal grand jury in the Southern District of Florida, the US Attorney's Office for the district said in a statement.

Prosecutors alleged that Akram operated LabelsB...