Prominent poker professional and 2021 WSOP bracelet winner Cory Zeidman has pleaded guilty to orchestrating a long-running sports betting scam that defrauded bettors for over 16 years.
Zeidman and his associates promoted their services through national radio ads, luring thousands of clients with the promise of exclusive betting insights.
The group claimed access to “insider information” that would give bettors a winning edge. They convinced clients that they had privileged access to details such as undisclosed player injuries, biased referees, and fixed matches. To bolster credibility, they claimed to have connections with athletes’ doctors, college insiders, and media industry professionals.
Operating under aliases like Gordon Howard Global and Ray Palmer Group, the organization presented itself as a legitimate betting consultancy. However, clients who paid for this “exclusive information” ended up with nothing of value, while Zeidman and his partners pocketed millions.
Zeidman Faces 20-Year Prison Sentence
Zeidman admitted his role in the scheme, pleading guilty to charges of conspiracy to commit mail and wire fraud, as well as federal money laundering charges. According to the US Attorney’s Office for the Eastern District of New York, he now faces a maximum prison sentence of 20 years, along with the forfeiture and restitution of $3.6 million.
US Attorney Breon Peace emphasized the broader implications of the case, stating:
HSI New York Special Agent in Charge William Walker highlighted the importance of transparency, urging victims of the scam to come forward and contact Homeland Security Investigations.
USPIS Inspector in Charge Daniel Brubaker pledged to continue investigating those who violate federal regulations for personal gain. NCPD Commissioner Patrick Ryder echoed this sentiment, stressing the need to hold fraudsters accountable and deter similar schemes in the future.
Zeidman and his associates promoted their services through national radio ads, luring thousands of clients with the promise of exclusive betting insights.
The group claimed access to “insider information” that would give bettors a winning edge. They convinced clients that they had privileged access to details such as undisclosed player injuries, biased referees, and fixed matches. To bolster credibility, they claimed to have connections with athletes’ doctors, college insiders, and media industry professionals.
Operating under aliases like Gordon Howard Global and Ray Palmer Group, the organization presented itself as a legitimate betting consultancy. However, clients who paid for this “exclusive information” ended up with nothing of value, while Zeidman and his partners pocketed millions.
Zeidman Faces 20-Year Prison Sentence
Zeidman admitted his role in the scheme, pleading guilty to charges of conspiracy to commit mail and wire fraud, as well as federal money laundering charges. According to the US Attorney’s Office for the Eastern District of New York, he now faces a maximum prison sentence of 20 years, along with the forfeiture and restitution of $3.6 million.
US Attorney Breon Peace emphasized the broader implications of the case, stating:
HSI New York Special Agent in Charge William Walker highlighted the importance of transparency, urging victims of the scam to come forward and contact Homeland Security Investigations.
USPIS Inspector in Charge Daniel Brubaker pledged to continue investigating those who violate federal regulations for personal gain. NCPD Commissioner Patrick Ryder echoed this sentiment, stressing the need to hold fraudsters accountable and deter similar schemes in the future.
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