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
What is the new user bonus for Jackpot City?
With no Jackpot City promo code required, new players can get a 50% deposit match worth up to $1,000. Users will automatically be eligible once they create a new account for the first time.
When and where was the game of roulette first played?
When and where was the game of roulette first played? The game as we know it today first appeared in Paris in 1796, and quickly gained popularity throughout Europe, especially in the casinos of Monte Carlo. The addition of the zero by Francois and Louis Blanc in the mid-19th century helped to increase the house edge and make the game more profitable for casinos.
Who invented the game of roulette?
Who invented the game of roulette? The exact origins of roulette are a subject of much debate and speculation among historians and gambling enthusiasts. While there is no clear consensus on the game’s inventor, several theories exist regarding its creation. One of the most popular theories is that the game was invented by a French mathematician named Blaise Pascal in the 17th century. According to this theory, Pascal was attempting to develop a perpetual motion machine when he inadvertently created the roulette wheel.
Is Jackpot City worth it?
At Jackpot City, there’s no lack of bonuses, for new and existing players alike. The most enticing deal of all is the new players’ deposit bonus. You’ll receive a 100% deposit bonus of up to $400 on your first four deposits. That’s a $1,600 value, so it’s definitely worth taking advantage of.
Bagaimana cara mendapatkan bonus selamat datang jackpot city?
Download Jackpot City Casino to enjoy hundreds of thrilling games, live dealers, 24/7 support and a secure gaming environment. Try demo or real money play today! Enjoy a variety of titles on the go with the Jackpot City Casino app, available to download via the App store.
