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

Zeidman, 61, from Boca Raton, Florida, operated under fake business names like "Gordon Howard Global" and "Ray Palmer Group," advertising nationally on radio to attract potential investors. He claimed to have insider information about injuries, corrupt referees, and fixed games - all of which prosecutors proved to be false.

The scheme involved charging substantial fees for supposedly privileged information that was either fabricated or simply collected from public internet searches. Victims were told this insider knowledge came from doctors regarding player injuries and television executives who knew predetermined game results, making sports betting virtually risk-free.

Despite initially claiming innocence after his 2022 arrest, Zeidman has now pleaded guilty to conspiring to commit mail and wire fraud, which carries a maximum sentence of 20 years in prison.

Zeidman's poker career spans 25 years with nearly $700,000 in tournament winnings, including a WSOP bracelet in 2012 for 7-card stud. Homeland Security investigators confirmed that victims reached out to report his fraudulent operation, leading to the federal investigation and subsequent charges.

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