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

How did the introduction of online casinos impact the game of roulette?

How did the introduction of online casinos impact the game of roulette? The introduction of online casinos has had a significant impact on the game of roulette. Online casinos made roulette and other casino games easily accessible to anyone with an internet connection. Players can now enjoy their favorite casino games from the comfort of their own homes, without having to travel to a land-based casino. Online casinos also introduced new variations of roulette, such as multi-wheel roulette and mini-roulette, which are not typically found in traditional casinos.

How do I deposit using Skrill on WPT Global?

How do I deposit using Skrill In WPT Global? To deposit using Skrill, you need to create and verify an account with them. You can then add funds to your Skrill eWallet using a variety of methods. To deposit on WPT Global, log in to your Player Account and go to the Cashier. Click ‘Deposit’ and choose Skrill from the options available. Follow the on-screen instructions to make your deposit.

How has technology influenced the game of roulette?

How has technology influenced the game of roulette, such as with electronic and automated versions of the game? One of the most significant technological advancements in the game of roulette has been the introduction of electronic roulette tables. These tables feature a digital display that simulates the spinning of the roulette wheel, and players can place their bets on a touchscreen interface. This allows for faster gameplay, as the wheel can be spun more frequently than with a traditional roulette table.

Is there a legit online casino that pays real money?

Caesars Palace Online Casino is the best real money online casino for customer service, and it also offers a great loyalty program, with VIP tiers for high-stakes players. The Caesars Palace Online Casino promo code PRESS2500 provides new players with a 100% deposit match bonus up to $2,500, plus 2,500 Reward Credits.

Are there any legit online slots that pay real money no deposit?

There are a number of online casinos that offer you both a no deposit when you sign up, while also having an app available for you to download. To name a few of those casino apps that pay real money with no deposit, there is: PokerStars Casino - $100 Bonus Play. BetMGM Casino - $25 No Deposit Bonus.

🔥 🎡 Real Money Casino App No Deposit 🎮
😈 Latest Articles 🎥 🎠 Popular Articles 🎻
🎀 Recommended Articles 🥁
# Article Title Keyword Article Link Article Details
WPT Global