December 4, 2024—Cory Zeidman, a 63-year-old professional poker player originally from Syosset, New York, and now residing in Boca Raton, Florida, has pleaded guilty to conspiracy to commit wire and mail fraud in connection with a fraudulent sports betting scheme that defrauded victims of $25 million.
The Scheme Unveiled
Operating between 2006 and 2020, Zeidman and his associates lured victims through national radio advertisements, falsely claiming access to insider information on fixed games, corrupt referees, and confidential injury reports. They portrayed sports betting as a “risk-free” investment, deceiving individuals into paying substantial fees for worthless betting advice.
During his plea hearing, Zeidman admitted, “Our company would occasionally provide potential customers with false information regarding information that our company had about various sporting events in order to induce those customers into paying fees in exchange for sports betting advice.”
Legal Repercussions
Zeidman has agreed to pay approximately $3.7 million in restitution to his victims and faces a maximum sentence … . Sentencing is scheduled for a later date.
Breon Peace, United States Attorney … emphasized the gravity of the offense, stating, “Zeidman and his partners … .”
A Tarnished Legacy
Zeidman, a 2012 World Series of … bracelet winner, now sees his professional accolades overshadowed by his criminal activities. This case serves as a stark reminder of the potential dangers lurking in purported “insider” betting opportunities.
Share your thoughts on this case in the comments below.
Stay informed on this developing story by subscribing to our newsletter and following us on social media.
Disclaimer: This article is for informational purposes only. For official updates, please refer to statements from the United States Attorney’s Office … and other authorized agencies.
