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Have your friend create the account. Then figure out a way to have them purchase the 4-pack to distribute to your other 3 friends.
Ask them to create a Steam account, buy the 4-pack on YOUR new account and you will receive 1 copy for you and you can gift the other 3 copies.
The same way parents create an account for their child sometimes.
Just make sure he is the only user of that account.
Some people need help setting up things like this (not good with computers etc) so it shouldn't be a problem.
Let your friend(s) create their own accounts, buy the 4 pack and take the hit of losing one game and just buy another separately if needed. It still works out at a good deal especially in the sale.
Each person needs, to make their own account so it's within their control. OP needs to purchase either in the existing account or a new one, and gift the remainders. Nothing else should be done.
Don't suggest things that can get people into trouble. Please stay out of the conversation since you don't know what you're talking about.
Strictest interpretation of the rules, no you're not allowed.
Can Valve actually prevent it or police it? No, not really.
But it's still a bad idea because it would be possible for me to create an account for you. Store the creation information somewhere safe. And as mentioned, we had a falling out I'd have a very strong claim that it's my account. And while you personally may never do that to your friend, it's still a bad idea. Lots of people who imagine they're an exception to the rules are sometimes put out to discover they've been in denial.
And there's plenty of ways you can get the same result and protect yourself and your friend. Getting stuck on doing a thing just so, the way you want to, and ignoring the issues with your plan is at least a little bit selfish and misguided. You're doing it more for yourself than your friend in at least some cases.
After all in a few years is your friend going to be like, "That game (or games) was a nice gift, but it would have meant more if you had made the Steam account for me and given the account as a gift." I'm going to bet the answer is no.