Professional poker player Corey Zeidman recently pleaded guilty to fraud after being involved in a $25 million scheme that ran between 2006 and 2020. Zeidman, a Florida resident, falsely claimed to have insider information about sports fixtures, including significant player injuries, fixed games, and connections to corrupt officials. This fraudulent scheme led to him facing up to 20 years in prison and being ordered to pay $3.6 million in restitution.
The US Attorney for the Eastern District of New York, Breon Peace, emphasized the importance of Zeidman’s guilty plea in sending a clear message to those who exploit the public by falsely promoting gambling as a form of investment. Zeidman’s fraudulent activities involved charging bettors significant fees for his supposed insider tips, causing some individuals to lose millions of dollars by betting on the outcomes of the fixed games.
To attract more victims, Zeidman advertised his services on national radio, using different names such as the “Ray Palmer Group” and “Gordon Howard Global.” Despite his success as a poker professional, which includes winning a bracelet at the World Series of Poker in 2012, Zeidman’s reputation has been tarnished by his involvement in this fraudulent scheme.
Overall, Zeidman’s actions serve as a cautionary tale about the dangers of falling for promises of insider information in the world of sports betting. It is essential for individuals to be cautious and conduct thorough research before trusting anyone claiming to have special insights or tips that could potentially lead to financial gain. By holding perpetrators like Zeidman accountable for their fraudulent activities, authorities aim to protect the public from falling victim to similar scams in the future.