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

Zeidman, 61, based in Boca Raton, Florida, operated companies under names like "Gordon Howard Global" and "Ray Palmer Group." These organizations advertised nationally, claiming to have insider information about fixed games, injured players, and corrupt referees.

Customers paid substantial fees for what they believed was privileged information from doctors and television executives. However, prosecutors revealed this information was either completely fabricated or simply gathered from public internet searches.

The poker professional, who has earned nearly $700,000 in tournament winnings and won a WSOP bracelet in 2012, initially proclaimed his innocence. However, he has now pleaded guilty to conspiring to commit mail and wire fraud, which carries a maximum sentence of 20 years in prison.

Charles Walker, special agent of Homeland Security in New York, stated that Zeidman exploited unsuspecting clients through deceptive practices, outright lies, and high-pressure tactics. The investigation began after multiple victims reported the scheme to Homeland Security.

The case serves as a stark reminder of the risks associated with sports betting tout services that claim to have inside information or guaranteed results.

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