Former World Series of Poker bracelet winner Cory Zeidman has pleaded guilty to running a fraudulent sports betting scheme that generated approximately $25 million from victims between 2004 and 2020.

Operating under fake business names like "Gordon Howard Global" and "Ray Palmer Group," Zeidman's organization advertised nationally, claiming to have insider information about injuries, corrupt referees, and fixed games. Victims were told this privileged information came from doctors and TV executives, making sports betting virtually risk-free.

In reality, prosecutors revealed that Zeidman and his co-defendants were providing either fabricated information or basic details readily available through internet searches. They charged substantial fees for this fraudulent advice, targeting victims' savings and retirement accounts.

Zeidman, 61, is a Boca Raton, Florida resident who has earned nearly $700,000 in tournament poker winnings over his 25-year career, including a WSOP bracelet in 2012. Initially proclaiming his innocence after his 2022 arrest, he has now pleaded guilty to conspiring to commit mail and wire fraud, which carries a maximum sentence of 20 years in prison.

The scheme was uncovered after multiple victims reported it to Homeland Security. Special Agent Charles Walker stated that Zeidman exploited clients through "deceptive practices, outright lies, and high-pressure tactics" despite claiming to possess "the highest level of morals and integrity."

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