Being, as I have said, an easy object of attack for the sorcerers, he in like manner readily fell a victim to Theodora, who, for this reason, entertained the highest affection for Peter as one devoted to the study of these arts.
The Emperor only succeeded with great difficulty in depriving him of his office, and, at the pressing entreaty of Theodora, soon afterwards appointed him chief of the treasury, and deprived John of these functions, although he had only been invested with them a few months previously.

This John was a native of Palestine, a good and gentle man, who did not even know how to find out the means of increasing his private fortune, and had never done injury to a single individual.

The more decided the affection of the people for him, the less he met with the approval of Justinian and his partner, who, as soon as they found amongst their agents, contrary to expectation, a good and honourable man, were quite dumbfounded, showed their indignation, and endeavoured by every possible means to get rid of him with the least delay.

Thus Peter succeeded John as chief of the royal treasury, and was one of the chief causes of great misery to all the inhabitants of the Empire.
He embezzled the greater part of the fund, which, in accordance with an ancient custom, was annually distributed by the Emperor to a number of families by way of assisting them.

Part of this public money he sent to the Emperor, and kept part for himself, whereby he acquired ill-gotten wealth.