WSOP Bracelet Winner Cory Zeidman Pleads Not Guilty, Denies Charges

A poker arrested in connection to $25 million sports betting scheme has plead "not guilty" and tells PokerNews he is innocent of all charges.

Cory Zeidman was charged two weeks ago with placing radio ads to “lure victims to retain [his] organization for sports betting advice”, promising that “privileged information” meant that the bettors would have no risk.

Breon Peace, United States Attorney for the Eastern District of New York, Ricky Patel, Acting Special Agent-in-Charge, Homeland Security Investigations (HSI), New York, Patrick Ryder, Commissioner, Nassau County Police Department, and Daniel Brubaker, United States Postal Inspector in Charge, announced the charges against Zeidman, a 2015 World Series of Poker bracelet winner.

“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 United States Attorney Breon Peace. “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.” 

“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. “HSI will continue to work together with our partners to follow the money and tackle complex financial investigations to bring to justice fraudsters like Zeidman, who finance their lavish lifestyles by concocting ways to bamboozle the innocent when their only real goal is lining their pockets with ill-gotten cash.” 

“Mr. Zeidman took advantage of the public’s interest to “get in on the ground floor” of his sports betting organization.  He devised a criminal scheme to fatten his pockets using nothing more than people’s love for sports and his clever words wrapped around a fraud.  Postal Inspectors remind investors to thoroughly review all investment offers to ensure they are not left with a line of empty promises and a drained bank account,” said Inspector in Charge Brubaker.  

Victims were required to pay a fee to obtain this information which, unbeknownst to them, was either fictitious or obtained from an internet search by defendant and his co-conspirators.  Many victims lost their life savings. 

The 61-year-old provided this statement to PokerNews following the arraignment:

“In the words of (German philosopher Friedrich) Nietzsche, 'Everything the state says is a lie and everything it has it has stolen.' They took all my money and they seem upset that I won't plead to things I haven't done. I’ve been advised by my council to not get into details but I anxiously await my day in court. I have worked in the sports handicapping industry for the past 40 years starting with 'professor picks.' Trade secret — he wasn’t a real professor. I want to thank the outpouring of positive words in support from my close friends and family who know me best as an individual with the highest level of morals and integrity."

- Nagesh Rath, Gambling911.com