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
Zeidmanās scheme, operational between 2004 and 2020, revolved around fraudulent claims of having āprivilegedā 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, Zeidmanās 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.
Zeidmanās 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
Is there sign-up bonus for WPT Global Brazil new players
Is there a sign-up bonus for new players at WPT Global Brazil? Yes, new players can take advantage of one of the best poker bonuses available at any Brazilian online poker room. What does the sign-up bonus package include? The WPT Global welcome bonus package features: 1. A 100% deposit match up to $1,500. 2. Potential qualification for: 2.1 WPT Passport Satellite tickets 2.2 Global Spins tickets 2.3 A $110 ticket to the $50,000 Guaranteed Sunday Slam tournament
What deposit methods are currently available in WPT Global?
What deposit methods are currently available in WPT Global? Players can deposit to their WPT Global account using a variety of payment methods (depending on region) including Visa, Mastercard, JCB, instant bank transfer, prepaid vouchers and a wide range of cryptocurrencies such as Bitcoin, Ethereum, Litecoin and many more. Major E-wallets like Neteller, Skrill, Muchbetter and Luxonpay are also available (excluding Ontario).
Why can I not withdraw my original deposit on WPT Global?
Why can I not withdraw my original deposit on WPT Global? You must wager the full amount of your deposit at least one time before requesting a withdrawal, as stated in our Terms and Condition. Once you do this, you can request your funds using the same method you used to deposit.
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.
What is WPT Global in UK?
WPT Global is an extension of the World Poker Tour (WPT), a renowned series of professional poker tournaments. It focuses on providing an online poker platform that allows players to participate in various poker games and tournaments. Key Features of WPT Global 1.Online Poker Games: Offers a variety of poker formats, including Texas Hold’em, Omaha, and more. 2.Tournaments: Hosts regularly scheduled tournaments with various buy-ins, including satellite tournaments that can lead to larger live events.
