Poker player Cory Zeidman was sentenced to 46 months in federal prison by a federal judge this week.
In 2022, authorities arrested the Florida native on multiple fraud charges. The state claimed the World Series of Poker bracelet winner ran a multi-million dollar sports betting scam.
Prosecutors said Zeidman ran an organization that sold fake inside information about sporting events to gamblers. Zeidman’s group claimed to be in contact with “dirty” referees and other personnel that gave them the outcomes to “fixed” matches. They sold this information to their victims, netting around $25 million.
Initially, Zeidman denied the allegations to media outlets. However, last December, he pleaded guilty to conspiracy to commit mail and wire fraud. A U.S. District Court judge in the Eastern District of New York put Zeidman behind bars for nearly three years. Additionally, the judge ordered him to pay restitution of $3.7 million to his victims.
Sentence Was Longer Than Expected
A few days prior to the official sentencing, PokerNews reported they obtained a redacted sentencing letter from the U.S. Department of Justice and the case’s prosecutor. According to their report, the letter recommended Zeidman spends between 33 and 41 months in prison.
According to prosecutors, the group used “deceptive practices” and “outright lies” to bring in customers. Authorities added that he used “high-pressure tactics” to exploit clients for large sums of cash.
“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 a statement about Zeidman’s 2022 arrest.
Law enforcement claimed Zeidman used several aliases as part of the ruse, as well as multiple names for his company. At the tables, the Florida native has almost $700,000 in live tournament earnings, including a WSOP bracelet in 2012.
But beyond the accolades, Zeidman is probably most well-known for slowrolling Jennifer Harman in the 2005 WSOP main event.
