• Longtime professional poker player Cory Zeidman pled guilty this week to conspiring to commit mail and wire fraud
• Zeidman participated in a sports betting scheme to defraud prospective sports bettors in New York and Florida
• Zeidman misled victims into believing he had inside information on professional sports events

A longtime professional poker player pled guilty this week to conspiring to commit mail and wire fraud after participating in a years long sports betting scheme to defraud customers in New York and Florida.

Cory Zeidman, 63, of Boca Raton, Florida, pled guilty for his participation in a scheme to scam prospective sports bettors in New York and Florida by claiming to have inside information on sports events. He pled guilty in a federal court in Long Island, New York.

“Zeidman and his partners baited unsuspecting victims with false claims of an edge in sports betting only to feed them lies and pocket millions of dollars from their savings and retirement accounts,” stated United States Attorney Breon Peace in a release from the United States Attorney’s Office Eastern District of New York.

Luring Customers With False Information

Zeidman faces up to 20 years’ imprisonment as well as forfeiture and restitution of approximately $3.6 million. According to court documents, Zeidman and his partners made millions from their organization that placed national radio advertisement to lure victims to use them for sports betting advice. The customers were led to believe Zeidman and his organization had “privileged information that made betting on sporting events a no-risk proposition.”

Customers were required to pay a fee for the information, which was either false or obtained from an internet search by Zeidman or his co-conspirators. Zeidman and his co-conspirators used fake names and engaged in high-pressure sales tactics to lead customers into believing they had the inside information.

“The guilty plea of defendant Cory Zeidman is a reminder that crimes against our residents will not go unpunished. Numerous victims lost millions of dollars after being given fraudulent and misleading information regarding online betting. We need to set an example and continue to investigate and arrest offenders who commit fraud and any other crimes against our residents,” Patrick J. Ryder, Commissioner, Nassau County Police Department, said in the release.

Millions Bilked From Unsuspecting Customers

Zeidman and his co-conspirators ran the scheme for several years and made millions in fees from their victims. Zeidman often told customers that his organization had access to non-public information, such as the match being “fixed,” having inside information to an athlete being injured, or having knowledge that match referees were “dirty,” and that media executives shared predetermined outcomes for the events with his organization.

“Today’s guilty plea is proof that this individual gambled and lost when he thought his illegal activities would fly under the radar,” stated USPIS Inspector in Charge Daniel B. Brubaker. “Illegal gambling is not a victimless crime, Zeidman and his partners were able defraud so many individuals with their lies and had them pay these exorbitant fees for nothing. USPIS will continue to investigate individuals who are intentionally skirting federal regulations for their own selfish desires.”

Any individuals who believe they may have been scammed by Zeidman can contact Homeland Security Investigations, New York.