A prominent Silicon Valley couple has been arrested for allegedly swindling investors of over $60 million to fund their lavish lifestyle. Alexander Beckman, 41, founder and former CEO of the AI company GameOn, and his wife, attorney Valerie Lau Beckman, 38, are accused of orchestrating a "brazen and wide-ranging" six-year scheme. The couple is facing several federal charges, including securities fraud, conspiracy, and identity theft.
They allegedly used the stolen investor funds to purchase luxury properties, expensive vehicles, and private school tuition for Alexander's children. Beckman rose to prominence in Silicon Valley after founding GameOn in 2014, creating AI chatbot services for clients including professional sports teams and fashion brands. Con Couple Beckman was often seen mingling with high-profile figures, including Twitter co-founder Jack Dorsey, at elite events, all while allegedly embezzling millions from investors and covering it up with fake documents.
According to an indictment filed this week in San Francisco's U.S. District Court, the fraud unraveled when GameOn's board of directors found out that a company bank account expected to hold over $11 million contained just 37 cents.
To hide the misappropriated funds, Valerie allegedly deceived a representative from an investment firm at a San Francisco bank last June by presenting a forged balance sheet. However, she was caught on surveillance cameras in the act. The unnamed investment firm had invested $5.
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