Investment Scam Lands Souderton Man In Prison
A Montgomery County man who admitted bilking people out of nearly $2.5 million has been given 65 months in federal prison. He must also pay full restitution to 13 victims. 42-year-old John Snyder of Front Street in Souderton pleaded guilty to wire fraud earlier this year. Prosecutors say he defrauded his victims by taking money to invest in non-existent offshore bank accounts and a paintball business he did not own. Federal prosecutors say he represented himself as an owner of Cobra Command, A Hatfield paintball business he managed from late 2005 until early 2007. He met some of the victims there. Prosecutors say much of the money went for gambling.