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
Grab $25 Free at Stardust Casino - No Deposit Needed!
Hey there, casino fans! Stardust Casino does offer a sweet $25 no deposit bonus for new players in states like New Jersey and Pennsylvania, giving you free cash or spins right after signing up—no deposit needed.actionnetwork+1 This bonus usually drops as $20 in casino credits plus $5 from a special slot spin, like on Starburst, and it pairs nicely with a first deposit match up to $500 and 200 extra spins.
What is the future of the game of roulette?
What is the future of the game of roulette? One potential future for roulette is the integration of virtual and augmented reality technologies. This would allow players to immerse themselves in a virtual casino environment and enjoy a more realistic and engaging gaming experience. Another potential future for roulette is the continued growth of online gaming. As more and more people turn to the internet for their gaming needs, online casinos are likely to become even more popular.
Grab 77 Free Spins at 777 Casino - No Deposit Needed!
Hey there, casino fans! Want 77 free spins at 777 Casino without spending a dime? New players get them just by signing up and confirming their email—it’s that simple and super exciting.freespins+1 Quick Signup Steps Head to 777.com and fill out the short registration form with your real details. You’ll get an email in minutes—click the link inside, and boom, your 77 spins (worth £0.25 each) pop up on fun slots like Treasure Fair or Jacks Pot.
What is the origin of the name Roulette?
What is the origin of the name Roulette? The origin of the name “roulette” is French and it means “little wheel”. The name is derived from the fact that the game is played on a small wheel that spins around, with players betting on where the ball will land. The word “roulette” was first used in its current context in the 18th century, although the game itself dates back much earlier.
Does Planet 7 Casino offer a no deposit bonus?
Discover an exhilarating opportunity with Planet 7 Casino’s no deposit bonus, offering you 303 absolutely FREE Spins!
Welcome to wptgodownload.com – your ultimate gateway to Planet 7 Casino! Enjoy hassle-free login, claim a $100 free chip, and access exclusive no deposit bonus offers. Elevate your gaming experience with the latest promotions and real prize opportunities.
This site only collects related articles. Viewing the original, please copy and open the following link:Cory Zeidman Pleads Guilty to Sports Betting Fraud Scheme
