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
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Released on 28 December 2023, Buckshot Roulette became popular online in early 2024 and was praised by critics and players for its strategic gameplay and replay value. The Steam release reportedly sold a million copies in two weeks.
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Google Play Games es la red social de videojuegos de Google, que en cierto modo cubre un hueco muy similar al popular Game Center de Apple, ofreciendo un punto de encuentro común para todos los videojuegos que utilizan sistema operativo Android.
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A shotgun gauge refers to the diameter of the shotgun’s bore. The gauge is determined by the number of lead balls, of the same diameter as the bore, that it would take to weigh one pound. For example, if it takes 12 lead balls to weigh one pound, then the shotgun is a 12-gauge.
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The earliest smoothbore firearms loaded with shot were the “fowling pieces” that appeared in 16th-century Europe. In the early 17th century, the barrels were made as long as 6 feet (1.8 m) in an attempt to gain maximum accuracy.Sep 5, 2024
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