A San Francisco couple, Alexander and Valerie Beckman, were arrested on Thursday after being indicted on 25 federal counts of fraud and other crimes related to their artificial intelligence company, GameOn Inc. The indictment alleges wire and securities fraud, conspiracy charges, identity theft, and more.
Alexander, founder and former CEO of GameOn, which develops AI software like chatbots used by major sports leagues and luxury brands, allegedly raised $60 million from investors over six years but misappropriated $4 million for personal expenses, including homes, schools, and a wedding.
Valerie, an attorney who worked on GameOn’s corporate matters from 2016 to 2024, allegedly provided forged audit reports and lied about her work while helping Alexander defraud investors. Alexander used fake identities and documents to distribute false financial information, including using a former CFO’s name and multiple bank accounts.
If convicted, the Beckmans face severe prison sentences, with potential terms ranging up to 20 years for each wire fraud charge, $10 million in aggregate for identity theft, and other related offenses.
This case highlights the serious implications of misusing AI technology for financial gain while breaching trust in a company valued by its major clients.
Source: https://abc7news.com/post/doj-founder-san-francisco-ai-chatbot-startup-gameon-attorney-wife-indicted-fraud/15831810