Poker player Cory Zeidman sentenced to 46 months in prison for fraud

Famous poker professional Cory Zeidman has been sentenced to 46 months in federal prison in a case involving wire fraud.

On October 7, 2025, well-known American poker professional Cory Zeidman was sentenced to 46 months in federal prison in a case involving wire fraud. This punishment was five months harsher than what prosecutors recommended after a plea deal was reached. The court also recommended that Zeidman serve his sentence at the Federal Prison Camp Pensacola (FPC Pensacola) — a minimum-security prison for men. Who is Cory Zeidman: Brief Biography and Achievements Cory Zeidman is an experienced poker player from New York who has earned nearly $700,000 in live tournaments, according to The Hendon Mob database. His greatest success came in 2012 when he won a World Series of Poker (WSOP) bracelet in the $1,500 Seven Card Stud event, taking home $201,559 for first place. That tournament had 622 entrants, and well-known champion Michael Mizrachi finished fifth. Although Zeidman is known as a tournament player, he spent most of his time playing cash games. His name also became widely known after a notorious incident at the 2005 WSOP, when he gained fame for a slowroll against Poker Hall of Famer Jennifer Harman. The Fraud Case: Nature of the Charges and Investigation In May 2022, Cory Zeidman was arrested in Florida on charges of fraud related to running a scheme selling "privileged" sports betting information. According to case materials, from 2004 to 2020, Zeidman and his associates advertised their services on the radio, promising clients insider information on sporting events. Prosecutors claim that Zeidman assured clients he had unique knowledge that supposedly guaranteed risk-free winning bets. Victims were asked to pay hefty fees for access to this information. In reality, according to investigators, the "privileged" information either did not exist or was sourced from publicly available internet sources. The indictment states that Zeidman and his team collected millions of dollars from clients over 16 years, misleading them about their real chances of winning. Aggressive marketing tactics and pressure were used to attract new victims. Court Proceedings: Guilty Plea and Sentencing After his arrest, Cory Zeidman's case received widespread coverage in the American media, with outlets such as USA Today, ESPN, and others reporting on it. Initially, Zeidman denied any wrongdoing. In June 2022, shortly after his arrest, he made a statement to PokerNews, referencing philosopher Friedrich Nietzsche and claiming the government was lying and had "taken all his money." He also noted that he had worked in the sports prediction industry for 40 years and thanked friends and family for their support, emphasizing his honesty and high moral standards. Nevertheless, two years after his arrest, Zeidman pleaded guilty to charges of conspiracy to commit wire fraud and fraud. As part of the plea deal, he agreed to forfeit nearly $3.7 million obtained through criminal activity and to pay restitution totaling $5.2 million to 21 victims. Prosecutors recommended a prison term of 33 to 41 months, considering it a sufficient punishment. However, U.S. District Judge Joanna Seybert of the Eastern District of New York imposed a stricter sentence — 46 months. According to court documents, neither Zeidman nor his defense objected to the amount of restitution for the victims. The Fraud Mechanism: How the Scheme Worked According to case materials, Zeidman and his associates placed radio ads to attract clients interested in sports betting. The ads claimed they had insider information that allowed for risk-free bets. Victims were asked to pay for access to these "secret details." In reality, as the investigation found, Zeidman had no unique sources, and the information was either fabricated or publicly available. As a result of this activity, from 2004 to 2020, the fraudsters received millions of dollars from clients. Victims not only lost money paying for the "information" but often lost even more betting based on unreliable advice. After Zeidman's arrest, U.S. Department of Homeland Security Special Agent Charles Walker noted that Zeidman personally profited from the deception, using lies and pressure on trusting clients. Financial Consequences: Forfeiture and Restitution As part of the plea deal, Cory Zeidman agreed to forfeit nearly $3.7 million obtained through fraudulent activity. In addition, the court ordered him to pay restitution totaling $5.2 million to 21 victims. Court documents note that neither side objected to the amount of restitution, and the court accepted the proposed sum. Initially, Zeidman faced up to 20 years in prison, but thanks to his guilty plea and cooperation with the investigation, the sentence was significantly reduced. Nevertheless, the term imposed by the court was even higher than what prosecutors had requested. Table of Key Facts and Case Results Name: Cory Zeidman Date of Arrest: May 25, 2022 Date of Sentencing: October 7, 2025 Prison Term: 46 months in federal prison Prosecutors' Recommendation: 33–41 months Recommended Facility: FPC Pensacola (minimum-security prison) Forfeiture Amount: nearly $3,700,000 Restitution Amount: $5,200,000 (to 21 victims) Potential Maximum Sentence: up to 20 years Biggest Tournament Achievement: Winner of $1,500 Seven Card Stud at WSOP 2012 ($201,559) Total Live Tournament Winnings: nearly $700,000 Reaction and Consequences for the Poker Community Cory Zeidman's case caused a major stir not only in poker circles but also in the media. His arrest and subsequent guilty plea were discussed on leading sports and news platforms, including USA Today and ESPN. For the poker community, this case served as a reminder that even well-known players can become involved in illegal schemes outside the poker table. Zeidman's story also showed that attempts to use one's authority and clients' trust for fraud can lead to serious legal and financial consequences. Despite his past sports and poker achievements, the player's reputation was severely damaged. What This Means for PPPoker Club Players For members of PPPoker clubs, this story serves as an important lesson: always be critical of offers for "winning strategies," guaranteed insider data, or paid advice, especially if the source is not trustworthy. Even experienced and well-known players may use their status to promote questionable schemes. Within PPPoker clubs, it is important to build honest and transparent relationships between players and the administration. If you encounter offers to buy "secret information" or guaranteed predictions, remember the risks of fraud and the possible serious consequences for all participants. This story is a reminder: success in poker and betting is built on analysis, experience, and discipline, not on promises of easy money from "insiders." Be careful with your choices and do not blindly trust even those who seem to be authorities in the poker world.