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Poker Pro Cory Zeidman Indicted for $25M Sports actions Making a wager ‘Fraud Plot’

Cory Zeidman

Longtime official poker player Cory Zeidman has been indicted for allegedly running a sports having a wager “fraud intention” wherein he defrauded victims out of hundreds of hundreds over a 15-one year span.

An indictment in the United States District Court for the Jap District of New York unsealed on Wednesday, May per chance well furthermore fair 25 costs Zeidman with “conspiracy to commit wire fraud, mail fraud and money laundering conspiracy in connection with a sports having a wager fraud intention he operated from Prolonged Island and Florida.”

Zeidman, who won a World Sequence of Poker (WSOP) bracelet in 2012, used to be arrested in Florida on Wednesday morning and must make his initial federal court appearance in Miami.

Multi-Million Buck Plot

The 13-web whisper indictment, initially filed on May per chance well furthermore fair 17, alleges that Zeidman held a management role in the “Phoenix Group” from January 2004 to March 2020 and that he and his co-conspirators “placed adverts on the radio in rather a few markets all the absolute top intention during the US, which falsely advertised a ‘sophisticated white-collar methodology to gathering sports data’ and promised ‘wagering as investing, now not high-probability playing.'”

The radio adverts suggested listeners to call a phone quantity “to receive data that will likely be extinct to take care of shut when wagering on sports events,” the indictment reads. When the victims known as that quantity, Zeidman and his co-conspirators allegedly instantaneous the victims “that sure carrying events were predetermined, or ‘mounted,’ and that Zeidman … knew the outcomes of the events.”

Cory Zeidman Indictment
Cory Zeidman indictment veil sheet

Moreover, Zeidman is accused to hang falsely claimed to hang “privileged” or inner data in regards to the carrying events and “falsely claimed that there used to be no probability connected to their wages.”

In trade for the information, which prosecutors whisper “used to be either fictitious or obtained from an data superhighway search,” Zeidman and his co-defendants demanded the victims pay expenses and are accused to hang quiet higher than $25 million in expenses between 2004 and 2020.

“As alleged, Zeidman defrauded his victims, stole their existence savings and persuaded them to empty their retirement accounts to take a position in his bogus sports having a wager team, all so he would possibly presumably well per chance apply it to international holidays, a multi-million dollar dwelling and poker tournaments,” US Attorney Breon Peace mentioned in a press liberate. “At the unusual time’s indictment serves as a reminder to all of us to be wary of so-known as funding alternatives that purport to hang inner data, as they’re in fact a wager now not worth taking.”

Zeidman is extra accused of conspiracy to commit wire fraud and mail fraud, to boot to conspiracy to commit money laundering.

Zeidman it seems extinct a unfold of aliases when conducting the fraud: Richard Barnes, Walter Barr, Mr. Carlyle, Ray Palmer, Rick Money, Elliot Stern, Gordon Howard, David Coates, Simon Coates, Paul Knox, Impress Lewis, Joel Orenstein and Steve Nash. He furthermore extinct firm names, alongside with Gordon Howard Global, Ray Palmer Crew and Grant Sports actions Global.

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Bracelet Winner

Zeidman, 61, has had a lengthy profession in poker that dates encourage to no much less than 1997, when he accomplished eighth in a $1,500 beget-in Seven-Card Stud match on the WSOP for $8,481.

In May per chance well furthermore fair 2004, precise a few months after the sports having a wager intention is intended to hang begun, Zeidman accomplished fifth in the WSOP’s $5,000 beget-in Seven Card Stud World Championship to manufacture $44,000.

Cory Zeidman
Cory Zeidman

Clearly a stud specialist, Zeidman earned his maiden WSOP bracelet in 2012 when he took down Tournament #4 $1,500 Seven-Card Stud for $201,559.

Zeidman furthermore had his moments in front of the cameras, having appeared on a collection of poker productions and memorably winning a cooler against Jen Harman in the 2005 WSOP Predominant Tournament in a straight-flush-versus-beefy-dwelling hand.

Zeidman, who has $691,141 in profession earnings, according to the Hendon Mob, played on the 2021 WSOP nonetheless didn’t discover any cashes. His most modern money came on the World Poker Tour (WPT) Seminole Laborious Rock Poker Showdown in March, the put he accomplished 12th in a $400 beget-in pot-limit Omaha match for $960.

The federal case against Zeidman is being prosecuted by Assistant US Attorneys Anthony Bagnuola, Charles P. Kelly and Diane Beckmann. PokerNews will music the case and observe up on any tendencies.