GameOn AI startup founder charged with $60 million fraud scheme

The founder and former CEO of San Francisco-based AI chatbot company GameOn has been indicted on fraud charges. According to Reuters reporter Jonathan Stempel, Alexander Beckman, 41, faces 23 criminal counts for allegedly defrauding investors of over $60 million. His wife Valerie Lau Beckman, 38, was also charged with 16 counts. Prosecutors claim Beckman misled investors by fabricating revenue figures, bank statements, and audit reports between 2014 and 2024. The couple allegedly spent $4.2 million of investor funds on personal expenses, including a home and luxury vehicles. GameOn, which developed an enterprise conversational AI platform, has since been renamed On Platform and laid off most employees after revealing false financial statements in July 2024. Both defendants have pleaded not guilty.