Florida man accused of stealing, reselling $5.4M in postage stamps

Duane Allen Sikes, 64, indicted on charges of mail fraud, fund embezzlement


File photo.

JACKSONVILLE, Fla. - A Florida man is accused of using company checks from his employer to buy $5.4 million worth of postage stamps that were then resold through another company.

The Florida Times-Union reported Monday that Duane Allen Sikes, 64, is indicted on charges of mail fraud and fund embezzlement. The indictment said Sikes worked in the mailroom at a Jacksonville credit union and carried out the scheme for more than 20 years.

The indictment said the company provided weekly checks addressed to the "U.S. Postmaster" for Sikes to buy company postage. Every other week, Sikes instead bought stamps that were shipped to a New York-based stamp company that sold them at below market value, according to the indictment.

Sikes received stamp sale proceeds totaling $3.6 million, according to authorities.

It's unclear if he has a lawyer.

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