The US DOJ charges the former CEO of AI chatbot startup GameOn and his wife for allegedly defrauding investors of more than $60M between 2018 and 2024
while failing to even make payroll for employees Cyrus Farivar / Forbes : AI Startup Founder Allegedly Spent Millions Of Investors' Money On House, Car And Wedding Isaiah Poritz / Bloomberg Law : AI Chat Platform Founder Indicted For $60 Million Fraud Scheme Bluesky: @infanzone : “Money allegedly spent on home, vehicles, wedding venue” [embedded post] X: Erin Griffith / @eringriffith : Craziest detail, IMO: Beckman allegedly claimed GameOn had $69m in revenue in 2022 and $54m in profit. Annual revenue NEVER EXCEEDED $1m since the company started. [image] Erin Griffith / @eringriffith : His wife, a lawyer, was also allegedly in on it, fabricating bank accounts and audit statements, including one that showed a $13m cash balance when the real balance was $25.93(!!!!!!!). When investors demanded to see the bank account directly from the bank, the pair pulled this [image] Erin Griffith / @eringriffith : GameOn was founded in 2014 and based in SF. It provided an AI chatbot for pro sports teams and luxury brands. Beckman's alleged lies start with his background: He told investors his past company sold for just under 100m when it actually sold for less than $2m. Erin Griffith / @eringriffith : A startup called ON Platform, once known as GameOn, raised $80m in funding from investors including celebs like Snoop Dogg and Joe Montana. Today its founder, Alexander Beckman, and his wife, Valerie Lau, were arrested for fraud. Some of the craziest details from the