Gambling Expert Accused of Deceiving Bettors about Possessing Internal Data, Faces up to Two Decades in Prison
Corey Zeidman, a seasoned poker professional, admitted guilt to fraud charges on Wednesday. Over a four-decade period from 2006 to 2020, Zeidman deceived sports bettors by claiming to have insider information about various events.
According to the allegations, Zeidman had knowledge of significant player injuries, rigged games, and corrupt officials.The scheme, valued at $25 million, left the Florida resident vulnerable to a maximum sentence of 20 years in prison and a restitution fee of $3.6 million.
In a statement, US Attorney for the Eastern District of New York, Breon Peace, asserted that Zeidman's guilty plea serves as a warning to those who exploit the public by peddling gambling as an investment.
Bettors were charged substantial fees for Zeidman's advice, with some individuals experiencing considerable losses totaling millions of dollars on the presumed fixed games. Zeidman boosted his illicit network by advertising his services on national radio under various alias names, including the "Ray Palmer Group" and "Gordon Howard Global."
Despite his indictment, Zeidman has garnered success as a poker player, exemplified by his victory of a World Series of Poker bracelet in 2012. The 63-year-old's total live tournament winnings according to The Hendon Mob database surpass $690,000. Notably, current public records and prominent poker news outlets do not widely report a notable fraud case under Zeidman's name as of the latest data available, indicating that this specific case may not be widely publicized. However, it is important to note that pension fraud cases are managed and penalized in a manner similar to this case.
- Corey Zeidman's guilty plea highlights a warning to individuals who exploit the public by peddling casino-games, lotteries, or gambling as an investment, according to Breon Peace, US Attorney for the Eastern District of New York.
- Zeidman's deception, valued at $25 million, involved knowledge of casino-games rigging, corrupt officials, and significant player injuries, causing substantial losses to some bettors.
- General-news outlets might not widely report a fraud case under Zeidman's name, but it's important to remember that pension fraud cases receive similar management and penalties.
- Despite his indictment and guilty plea for fraudulent activities, Zeidman has recorded big-wins in casino-games, including a World Series of Poker bracelet victory in 2012, contributing to his live tournament winnings of over $690,000, as per The Hendon Mob database.
