A former professional poker player, Cory Zeidman, has been sentenced to more than eight years in prison for running a fraudulent sports betting scheme that scammed victims out of more than $25 million. Zeidman and his associates operated a national marketing campaign between 2004 and 2020, luring people into paying for supposedly “inside information” on sporting events. Prosecutors said the operation promised high returns on bets based on fake claims of privileged knowledge from physicians and high-level sports insiders.
The scheme exploited vulnerable individuals seeking financial hope, with Zeidman directing calls and funds through shell companies and false identities. The money was funneled into his personal expenses and gambling activities, rather than placing legitimate wagers. Authorities emphasized the impact on victims who trusted the service and lost significant life savings.
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