In a federal court in New York on Wednesday, professional poker player and sports betting promoter Cory Zeidman entered a guilty plea to cheating clients in his sports handicapping company.
By pretending to have insider information, the World Series of Poker bracelet winner and his co-defendants allegedly tricked clients into paying for betting advice, “only to feed them lies and pocket millions of dollars from their savings and retirement accounts,” according to US authorities.
Cory Zeidman, 61, of Boca Raton, Florida, has played poker for 25 years and has about $700,000 in gross tournament wins. In 2012, he took home his WSOP title in 7-card stud. His most well-known move before that was perhaps slow-rolling Jennifer Harman at the 2005 WSOP tournament while he had a straight flush against her full house.
$25M was generated via the scheme.
Prosecutors claim that Zeidman’s scheme provided gamblers with “privileged information” about player ailments, “dirty referees,” and “fixed” athletic events between 2004 and 2020. The group used false identities including “Ray Palmer Group” and “Gordon Howard Global” to promote its services on national radio.
Upon contacting the organization to inquire about investing in the scheme, bettors were informed that television executives were providing them with information on the allegedly planned outcomes of sports and that the company obtained information on injuries from physicians. Prosecutors claimed that this made sports betting a “low or no-risk proposition.”
According to court documents, Zeidman and his co-defendants took around $25 million in “exorbitant” payments from clients in return for material that “was either fictitious or obtained from an internet search.”
See also:
- UKGC Provides a New Assessment on the Gambling Act Review
- FIFA Club World Cup 2025 Will Only Be Broadcast by DAZN Worldwide
- WorldMatch and Dench Solutions Announce Partnership
Zeidman told PokerNews shortly after his 2022 arrest that he planned to enter a not guilty plea, using Nietzsche (the final haven of a scoundrel?) to maintain his innocence.
He declared, “Everything the state says is a lie and everything it has it has stolen,” in the words of Nietzsche.
Victims Do Not Agree
However, his victims said that Zeidman was the one stealing and lying, and they informed Homeland Security about his plan. In contrast, he describes himself in his PokerNews spiel as “an individual with the highest level of morals and integrity.”
Before wagering their money, sports bettors sought Cory Zeidman’s advice. However, Zeidman was making a lot of money thanks to his dishonest business methods, outright lies, and high-pressure techniques that took advantage of unwary customers, according to a statement released by Homeland Security special agent Charles Walker in New York.
With a possible penalty of 20 years in prison, Zeidman entered a guilty plea to conspiring to commit mail and wire fraud.
Join us on all our social channels and groups
Gameongazette is present on:
