Souderton Man Sentenced to More Than Five Years in Prison for Paintball Investment Scam
|U.S. Attorney’s Office December 15, 2009|
PHILADELPHIA—John William Snyder, 42, of Souderton, Pennsylvania, was sentenced today to 65 months in prison for three counts of wire fraud in a scheme that cost his victims more than $2.4 million, announced United States Attorney Michael L. Levy. Snyder devised a scheme in which, among other things, he falsely claimed to have access to millions of dollars in off-shore bank accounts in order to induce his victims to loan him money. Snyder also falsely claimed that he could sell an interest in a paintball business in which he had no ownership interest. He pleaded guilty to the charges last April.
In addition to the prison term, U.S. District Court Judge Gene E.K. Pratter ordered Snyder to pay restitution in the amount of $2.4 million to his 13 victims.
The case was investigated by the Federal Bureau of Investigation and was prosecuted by Assistant U.S. Attorney Anthony Kyriakakis.