Former Long Island resident charged with massive fraud involving sports betting | USAO-EDNY

A two-count indictment was unsealed today in the United States District Court for the Eastern District of New York charging Cory Zeidman with conspiracy to commit wire fraud, mail fraud and a money laundering conspiracy as part of a sports betting fraud scheme he operated from Long Island and Florida. The accused was arrested this morning and in Florida and will make his first appearance at the federal courthouse in Miami.

Breon Peace, United States Attorney for the Eastern District of New York, Ricky Patel, Acting Special Agent for Homeland Security Investigations (HSI), New York, Patrick Ryder, Commissioner, Nassau County Police Department, and Daniel Brubaker, United States Postal Inspector in charge, announced the charges.

“As alleged, Zeidman defrauded his victims, stole their life savings and persuaded them to empty their retirement accounts to invest in his bogus sports betting group, all so he could spend it on an international vacation, a residence of several million dollars and poker tournaments,” said U.S. Attorney Breon Peace. “Today’s indictment reminds us all to beware of so-called investment opportunities that claim to have Inside information, because it really is a gamble not worth taking.”

“As alleged, Zeidman preyed on individuals who were tricked into believing he had inside information that would lead them to easy money. In reality, he was selling only lies and misinformation – scamming millions of victims along the way, leaving their lives in financial ruin and their bank accounts empty,” said Ricky J. Patel, Acting Special Agent in Charge of HSI New York. “HSI will continue to work with our partners to track the money and tackle complex financial investigations in order to bring to justice fraudsters like Zeidman, who fund their lavish lifestyles by concocting ways to bamboozle innocent people when their only real goal is to line their pockets with money. sick. – received money.

“Mr. Zeidman took advantage of public interest to ‘enter the bottom floor’ of his sports betting organization. He devised a criminal scheme to fatten his pockets using nothing more than people’s love for sport and his clever words wrapped around a fraud Postal inspectors remind investors to carefully review all investment offers to ensure they don’t end up with an empty line of promises and a bank account emptied,” said Inspector in Charge Brubaker.

The accused was the head of an organization that aired advertisements on national radio to urge victims to retain the organization for sports betting advice. The victims were led to believe that the organization had inside information that made betting on sporting events a risk-free proposition. Victims had to pay a fee to obtain this information which, unbeknownst to them, was either fictitious or obtained from internet research by the accused and his co-conspirators. Many victims lost their life savings.

The defendant used the following aliases: Richard Barnes, Walter Barr, Mr. Carlyle, Ray Palmer, Rick Cash, Elliot Stern, Gordon Howard, David Coates, Simon Coates, Paul Knox, Mark Lewis, Joel Orenstein and Steve Nash. Some of the company names used by the defendant’s scheme were Gordon Howard Global, Ray Palmer Group and Grant Sports International.

Anyone who believes they have been a victim of the alleged crimes committed in connection with this publication can contact HSI at 1-866-347-2423.

The charges in the indictment are only allegations and the accused is presumed innocent until proven guilty.

The government case is being prosecuted by Assistant United States Attorneys Anthony Bagnuola, Charles P. Kelly and Diane Beckmann.

The defendant:

Age: 61
Boca Raton, Florida

EDNY File No. 22-CR-228 (JS)

Lynn A. Saleh