Poker player Cory Zeidman has been accused of multiple crimes in connection with sports betting, the federal government alleged Wednesday.
A two-count indictment was unsealed Wednesday in United States District Court for the Eastern District of New York charging the 61-year-old Zeidman with conspiracy to commit wire fraud, mail fraud and money laundering conspiracy in connection with a “sports betting fraud scheme” he allegedly operated from Long Island and Florida.
Zeidman was arrested Wednesday in Florida.
“As alleged, Zeidman defrauded his victims, stole their life savings and persuaded them to drain their retirement accounts to invest in his bogus sports betting group, all so he could spend it on international vacations, a multi-million dollar residence and poker tournaments,” stated U.S. Attorney Breon Peace.
Zeidman allegedly ran an operation that “placed national radio advertisements to lure victims to retain the organization for sports betting advice.”
The feds claimed that Zeidman convinced people that sports betting could be risk-free. It’s unclear how anyone could be duped into thinking betting on sports was without risk, but the feds stated that Zeidman told people he had “privileged information.”
The alleged victims paid a fee for the sports betting advice, the government alleged.
“Many victims lost their life savings” gambling on sports with Zeidman’s advice, the government said.
“As alleged, Zeidman preyed on individuals who were led to believe he had inside information that would lead them to easy money. In reality, he was selling nothing but lies and misinformation— bilking millions from victims along the way, leaving their lives in financial ruin and their bank accounts empty,” said HSI New York Acting Special Agent in Charge Ricky J. Patel.
Zeidman allegedly used a number of aliases in the scheme, including Richard Barnes, Walter Barr, Mr. Carlyle, Ray Palmer, Rick Cash, Elliot Stern, Gordon Howard, David Coates, Simon Coates, Paul Knox, Mark Lewis, Joel Orenstein, and Steve Nash.
“Some of the company names used by defendant’s scheme were Gordon Howard Global, Ray Palmer Group and Grant Sports International,” the feds said.
The feds are asking that “any individuals who believe they may have been the victim of the alleged crimes” to contact authorities at 1-866-347-2423.
Zeidman, a World Series of Poker bracelet winner, is perhaps best known in the poker world by a famous hand he played with poker legend Jennifer Harman in the 2005 Main Event.