Prosecutors say a man who operated a major sports betting fraud scheme out of Long Island and Florida was arrested this morning.

According to investigators, 61-year-old Cory Zeidman swindled his victims out of their life’s savings with the promise of easy money.

Prosecutors say Zeidman used multiple aliases in his scheme and even purchased radio ads to give his organization the appearance of legitimacy. Victims were asked to pay a fee for his advice, which prosecutors say Zeidman pocketed on the promise of information that did not exist.

Investigators are now asking anyone who may have been victimized by this suspected fraud to contact them at 1-866-347-2423.