Everett Man Sentenced For Fraud
SEATTLE - Peter Randall Snook, who defrauded investors of more than $3.7 million, was sentenced last week to three years and five months in prison.
Snook, 44, of Everett, pleaded guilty to mail-fraud charges in connection with Berjac of Washington, a Lynnwood financing firm that loaned money to people who could not afford to pay initial insurance premiums.
Snook's business operated from 1976 to 1991. He solicited investors in his operation and then used the capital he raised to lend insurance money. The government said that beginning in 1987, Snook quit the business of insurance loans but continued soliciting investment money. More than 100 investors lost money.
Judge Thomas Zilly also sentenced Snook to three years probation and ordered him to pay restitution of more than $3
million.