He's accused of treating patients in Orange County, claiming he could cure diseases such as cancer and AIDS.
He is scheduled to be sentenced on Feb. 11. Prosecutors plan to recommend a sentence of not more than one year in prison. They say he could have faced up to four years in prison if his case had gone to trial.
Peterson came to the attention of authorities when he was profiled in a June 10 Orange County Register story. He claimed he could cure incurable diseases with vitamin and other supplements he prescribed.
An undercover Orange County investigator posed as a cancer patient and met with Peterson. Peterson prescribed "Dr. P's Mega-Multi 100" to the agent. An analysis of the dose he prescribed showed it exceeded the daily legal limit of lead.
City News Service contributed to this story.