In a move that one industry watcher compares to the Bernie Madoff scandal, former World Series of Poker bracelet winner Cory Zeidman was charged with conspiracy to commit wire fraud, mail fraud, and money laundering conspiracy in connection with a sports betting fraud scheme he operated from Long Island and Florida, according to a press release issued by the U.S. District Court for the Eastern District of New York.
The two-count indictment was unsealed Wednesday, and Zeidman, a 2012 WSOP bracelet winner, was arrested later that morning in Florida.
Thinking of this classic old school TV poker hand today for absolutely no reason that I can think of whatsoever. Definitely no reason I’m thinking of this hand today.https://t.co/xgpRtGnq75
— Scott Seiver (@scott_seiver) May 25, 2022
“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,” U.S. Attorney Breon Peace said in the release. “Today’s indictment serves as a reminder to all of us to be wary of so-called investment opportunities that purport to have inside information, as they are really a gamble not worth taking.”
According to the indictment, Zeidman led a group that placed advertisements on national radio stations. The ads would encourage people to call the service for advice…
