Cory Zeidman Pleads Guilty to Sports Betting Fraud Scheme

Former WSOP bracelet winner Cory Zeidman has admitted guilt in connection to a $25 million sports betting fraud scheme. The 64-year-old poker pro, who was once celebrated in the poker community, has now become a cautionary tale of deception and greed. His involvement in this large-scale operation exploited vulnerable individuals seeking insider tips on sporting events.
Details of the Fraud
Zeidman’s scheme, operational between 2004 and 2020, revolved around fraudulent claims of having “privileged” information on sports outcomes. These false promises, primarily advertised via radio commercials, lured victims by guaranteeing substantial returns on their investments. However, most of these so-called insider tips were fabricated or drawn from publicly available information.
Clients paid hefty fees under the impression that they were engaging in secure betting opportunities. Instead, they were systematically defrauded, with the operation generating millions of dollars for Zeidman and his associates.
The Investigation and Guilty Plea
In May 2022, Zeidman’s fraudulent activities came to light when he was arrested. Initially maintaining his innocence, he even quoted Friedrich Nietzsche, portraying himself as a victim of overzealous authorities. Despite his declarations of moral integrity, mounting evidence led him to plead guilty in October 2024 to charges of conspiracy and wire fraud.
The plea was entered in the United States District Court for the Eastern District of New York, marking a significant shift in his defense strategy. His legal team acknowledged the overwhelming evidence against him, leaving no viable alternative.
Sentencing and Fallout
While sentencing has yet to be finalized, Zeidman faces a potential 20-year prison term and restitution payments amounting to $3.6 million. His arrest and subsequent plea have not only tarnished his reputation in the poker world but also ended his career as a respected player. He has since refrained from participating in live tournaments, though reports suggest he continues to play in smaller cash games in Florida.
Zeidman’s case underscores the dangers of greed and deceit, even in a community as tight-knit as the poker world. His fall from grace serves as a reminder of the importance of ethical conduct both at and away from the tables.
For more updates on this case and other poker-related news, stay tuned to PokerNews.
FAQ
Will I receive a bonus if I register for WPT Global?
Will I receive a bonus if I register for WPT Global? If you register for WPT Global from our website, you will receive luxurious exclusive benefits. To receive the bonus, simply enter the bonus code “WPT777” when registering for WPT Global. If you have not yet registered for WPT Global, enter the bonus code to receive the benefits. 2024/05/03
Is 777 slot real money?
Yes! You may play the Golden 777 Slot game for Real Money and win Real Money once you register your Parimatch account. With a Max Win of 500x, you can actually win up to 500 times your wage per spin.
Is there any game that pays real money without deposit?
Cash Giraffe is an Android game app that lets you earn real money without making deposits. The app is similar to Mistplay and pays you to download and try new games. It has dozens of games you can play at any time. And you cash out with free gift cards or PayPal money, which is redeemable at only $0.20!Sep 27, 2024
Which game gives you real money?
Game apps for winning money are legit. There’s no guarantee that you will win money playing games, but the opportunity is certainly there in real money games. Before you play cash games, make sure you’ve played free games and that you completely understand the rules and build up your skills.4 Des 2024
What game is easy to win money?
Blackjack: Here, the low house edge and the opportunity to use strategy enhance your chances of winning. Baccarat: Its straightforward nature and decent odds make it a go-to for many players. European Roulette: Offers better odds than its American counterpart due to a reduced house edge.