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Former World Series of Poker bracelet winner arrested in $25 million scheme

A former 2012 World Series of Poker bracelet winner has been arrested in connection with a sports betting scheme that cost the victims a total of $25 million.

Cory Zeidman61, of Boca Raton, Fla., faces federal charges of conspiracy to commit a wire fraud and mail fraud, and conspiracy to commit money laundering in connection with a scheme that lasted from 2004 to 2020 that
‘scammed’ victims and persuaded them to ’empty their retirement accounts to invest in his bogus sports betting group, all so he could spend it on international vacations, a multi-million dollar residency and tournaments of poker”, according to a two-count federal indictment by the U.S. District Court for the Eastern District of New York unsealed Wednesday (May 25).

Zeidman and his anonymous co-conspirators mislead victims into paying over $25 million with the false promise that their organization had inside information to make betting on sporting events a risk-free proposition and obtained the payments by interstate bank transfer and private commercial carriers over a 16-year Term.

The group removed misleading radio ad space and promised a “sophisticated, white-collar approach to collecting sports news” for the service, which was listed as “Gordon Howard Global” and “Ray Palmer Group”.

Listeners who called for the service were asked to pay a fee to access insider information about the fixed games that the group said came from college doctors and television executives, according to the indictment. federal charge.

“As alleged, Zeidman preyed on individuals who were tricked into believing he had inside information that would lead them to easy money,” said Ricky J. Patel, Homeland Security Investigations New York Acting Special Agent in Charge, in a press release from the US Department of Justice on Wednesday. “In reality, he was selling nothing but lies and misinformation – defrauding millions of victims along the way, leaving their lives in financial ruin and their bank accounts empty.”