Ex-Poker Pro From Florida Pleads Guilty in Multi-Million Dollar Sports Betting Fraud Scheme
A former poker champion from Florida duped bettors out of millions with bogus inside tips—now he faces years in prison. 🌐 #News #BocaRatonFL #Florida #Crime
BOCA RATON, FL – Cory Zeidman, a former professional poker player, has pleaded guilty to charges in a massive fraud scheme that swindled millions from sports bettors. The Florida resident, who once won a World Series of Poker bracelet, was involved in a deceptive operation promising bettors insider information on college and professional sports events. The fraud scheme ran for several years, causing financial devastation for victims who were misled into paying exorbitant fees.
Zeidman’s Role in the Fraud Scheme
Zeidman, who now lives in Boca Raton, Florida, helped run a nationwide operation that used various names to advertise itself as having exclusive, high-value betting advice. He convinced sports bettors that his organization had access to non-public information, including inside knowledge about player injuries, biased referees, and even fixed games.
Prosecutors noted that the scheme involved fake names, high-pressure sales tactics, and false promises of a “sure thing” when placing bets.
How the Fraud Scheme Worked
Zeidman and his partners used deceptive practices to lure in unsuspecting bettors. They claimed to have special access to information such as inside knowledge of injuries or referees with biased tendencies. The organization also falsely claimed that certain professional sporting events were “fixed,” and that media executives had prior knowledge of outcomes. Victims were convinced that betting on these events, using the information provided, was virtually risk-free.
In reality, the information was fabricated, and victims were left with nothing after paying high fees for access to the so-called insider tips.
Legal Consequences and Financial Impact
On December 4, 2024, Zeidman pleaded guilty to conspiracy charges, including mail and wire fraud. He faces up to 20 years in prison, along with the forfeiture and restitution of approximately $3.6 million. This amount reflects the total defrauded from victims over the course of the operation. Zeidman’s plea marks a significant development in the ongoing investigation into the fraud scheme, which involved multiple people and affected many victims across the country.
Statements from Law Enforcement
U.S. Attorney Breon Peace emphasized the impact of fraudulent gambling schemes, stating, “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. Today’s guilty plea sends a message to all those who would prey upon the public by falsely advertising gambling as an ‘investment opportunity’: the only sure bet here is that this Office will work tirelessly to root out sources of disinformation and fraud and prosecute them to the fullest extent of the law.”
Inspector in Charge Brubaker from the U.S. Postal Inspection Service added, “Illegal gambling is not a victimless crime, Zeidman and his partners were able to defraud so many individuals with their lies and had them pay these exorbitant fees for nothing.”
Homeland Security Investigations (HSI) Special Agent in Charge Walker also spoke about the operation, noting, “Sports bettors sought Cory Zeidman’s advice before gambling their money—but it was Zeidman himself who was scoring big through his deceptive practices, outright lies, and high-pressure tactics that exploited unsuspecting clients.”
The Victims and Fallout
Victims of the scheme were lured into paying high fees for the false information, believing that the tips they were receiving would give them an edge in betting. Many of them lost significant sums, including money from their savings and retirement accounts, and were left with nothing in return for their investment.
Anyone who believes they may have been a victim of this fraud can contact Homeland Security Investigations at 1-866-347-2423. Authorities continue to investigate the case, committed to protecting the public from similar illicit schemes.
RELATED TOPICS: Crime | Florida | New York
Sign Up for Our Newsletter
We value your feedback! Did you find this article informative, inspiring, or thought-provoking? Leave a comment below and join the discussion. We appreciate your opinion and look forward to hearing from you!
