DOJ Recommends Federal Prison Time
Poker professional Cory Zeidman, a 2012 World Series of Poker (WSOP) bracelet winner, is facing a potential 33 to 41 months in federal prison after pleading guilty to charges of conspiracy and wire fraud. According to documents obtained from the U.S. Department of Justice (DOJ), prosecutors have recommended prison time along with the forfeiture of nearly $3.7 million in fraudulent proceeds.
Zeidman, a longtime figure in the poker community from New York, was accused of running a sports betting fraud scheme between 2004 and 2020 that deceived victims into paying millions of dollars for false “privileged” betting information.
The Sentencing Letter
The DOJ’s sentencing memorandum, submitted to United States District Judge Joanna Seybert by prosecutor Joseph Nocella Jr., recommends both prison time and full financial restitution. Zeidman has agreed to pay $5.2 million in restitution to 21 victims, with no objections from the defense.
Although the government’s guideline suggests 33 to 41 months, Judge Seybert will make the final determination when sentencing takes place on October 7 in the Eastern District of New York. Zeidman remains not in custody while awaiting sentencing.
From Denial to Guilty Plea
Zeidman was arrested in Florida on May 25, 2022, after an extensive investigation that drew coverage from major outlets including USA Today and ESPN. Initially, he denied the allegations, releasing a statement in June 2022 in which he quoted Nietzsche and described himself as a man of “morals and integrity.”
“They took all my money and they seem upset that I won’t plead to things I haven’t done… I anxiously await my day in court,” Zeidman said at the time.
Two years later, the poker pro now awaits sentencing following his guilty plea.
The Scheme
According to court filings, Zeidman and his associates lured sports bettors through radio advertisements, falsely promising access to insider or “risk-free” betting information. Prosecutors stated that the so-called privileged data was “either fictitious or obtained from an internet search.”
“Sports bettors sought Cory Zeidman’s advice before gambling their money — but it was Zeidman himself who was scoring big through his deceptive practices, outright lies, and high-pressure tactics that exploited unsuspecting clients,” said Charles Walker, special agent at Homeland Security in New York.
A Once-Respected Player
Zeidman, who has amassed nearly $700,000 in live tournament earnings according to The Hendon Mob, is best known for winning the 2012 WSOP $1,500 Seven Card Stud event, earning $201,559. The event drew 622 entrants, with Michael Mizrachi finishing fifth.
He is also remembered for a notorious slowroll against Poker Hall of Famer Jennifer Harman during the 2005 WSOP — an incident that made him one of poker’s more controversial figures.
As the October 7 sentencing approaches, Zeidman faces a significant prison term and multi-million-dollar financial penalties that mark a serious fall from his once-respected poker career.
