A federal case against poker pro Cory Zeidman for allegedly running a massive sports betting fraud scheme appears to be headed toward a settlement.
Zeidman, a resident of Boca Raton, Florida, was indicted in May 2022 for holding a “leadership role in an organization called the ‘Phoenix Organization,’ through which he, his co-conspirators and others committed the fraud and money laundering scheme described,” ” says the indictment.
On the way to an admission of guilt?
The long-time poker player, in a 2022 statement To PokerNewsHe said he wouldn’t take a plea deal and “I’m eagerly awaiting my day in court.”
“In the words of the German philosopher Friedrich Nietzsche: ‘Everything the state says is a lie and everything it has it has stolen.’ “They took all my money and seem upset that I won’t take ownership of things I didn’t do,” Zeidman said at the time.
Almost two years later, his lawyer said Sarita Kediadiscussed ongoing negotiations with the Assistant U.S. Attorney in the case, Anthony Bagnuolaaccording to court documents.
Zeidman in 2013 World Series of Poker (WSOP) The winner of the bracelet was scheduled for a status conference on March 5 before the Hon. Joanna Seybert in the United States District Court for the Eastern District of New York. However, his lawyer submitted a request to Judge Seybert on March 1 for a 60-day adjournment.
“Government advisers and defense lawyers hope that we can find a possible solution to this matter, but we need additional time to continue our discussion,” Kedia wrote.
What Poker Pro Faced and What He Allegedly Did
The next status conference is tentatively scheduled for April 30 at 9:00 a.m. ET. The plea negotiations have been going on for two months. PokerNews Tried to reach Zeidman’s attorney by email and phone but were unsuccessful. The details of the defense team’s proposed deal and the government’s counteroffer are not publicly available.
Zeidman, who initially pleaded not guilty, was arraigned on May 17, 2022. He is accused of holding a leadership role in the “Phoenix Organization” from January 2004 to March 2020 and that he and his co-conspirators “placed advertisements on the radio.” in various markets across the United States that falsely advertised a “sophisticated approach to employee sports information collection” and promised “betting as an investment rather than a high-risk gamble.”
The bracelet winner is charged with “conspiracy to commit wire fraud, mail fraud and money laundering conspiracy in connection with a sports betting fraud scheme he operated out of Long Island and Florida.”
He was arrested in Florida on May 25 and his case initially received extensive mainstream media coverage. USA Today, ESPN and many other major news outlets picked up the story.
Zeidman is accused of falsely claiming to have “privileged” or insider information about the sporting events and “falsely representing that there was no risk associated with her salary.”
In exchange for the information, which prosecutors say was “either fictitious or derived from an Internet search,” Zeidman and his co-defendants demanded victims pay fees and are accused of paying more in fees between 2004 and 2020 than having raised $25 million to one 13-page indictment.
Zeidman has won over $600,000 in The Hendon Mob cashes and a WSOP bracelet. But he has not been seen at a tournament since May 2022, just days before his arrest. He has since been released on bond and received permission from the judge to travel to Massachusetts in April 2023 for a possible work opportunity.
According to a year 2022 Pew Research Center According to one study, only 0.4% of federal cases that go to trial end in an acquittal, while nearly 90% of cases ended with a guilty plea outside of a trial and only 8.2% of cases were dismissed.
Zeidman was notorious for rolling slowly Jennifer Harman at the 2005 WSOP with a straight flush – the nuts – against queens full.
