# FBI Claims GameOn Founder Engineered $60 Million Fraud Operation
In a startling development, the founder of GameOn Technology, an artificial intelligence startup located in San Francisco (now known as ON Platform), has been charged with masterminding an extensive six-year fraud operation. Alexander Beckman, 41, alongside his wife, Valerie Lau Beckman, 38, who is an attorney and a former GameOn employee, faces a total of 25 charges combined, encompassing conspiracy, wire fraud, securities fraud, identity theft, and obstruction of justice. The purported scheme duped investors out of $60 million, creating significant financial and reputational repercussions.
## **The Charges**
The indictment along with a statement from the U.S. Attorney’s Office for the Northern District of California reveals that Beckman and Lau partook in a “bold and far-reaching” plan to mislead investors, employees, and clients. They allegedly concocted false financial documents, forged audits, and exaggerated revenue statistics to secure millions in investment for GameOn, which focused on AI-driven customer service chatbots. Notable clients included the NFL, Valentino, and Armani Exchange.
The indictment suggests that GameOn was encountering severe financial difficulties. The company’s business model supposedly depended on offering complimentary pilot programs without formal agreements and seldom profited from revenue-sharing deals. In certain instances, the company paid substantial fees to clients without receiving any compensation. An example noted by the FBI indicated that GameOn disbursed “hundreds of thousands of dollars” to a sports league in one year while obtaining no revenue.
To keep the business afloat and finance personal expenditures, Beckman is accused of employing deceptive methods. He allegedly inflated cash balances, overstated customer connections, and fabricated revenue reports. At one point, Beckman claimed quarterly sales of $72 million in 2023, despite GameOn’s yearly revenues never surpassing $1 million.
## **Valerie Lau Beckman’s Role**
As an attorney and Beckman’s spouse, Lau is said to have been instrumental in the deceitful operation. She is accused of tampering with documents, including those illicitly obtained from her prior employer, a venture capital firm. Lau also allegedly falsified bank statements, once misrepresenting an account balance of over $13 million when it actually contained just $25.
The indictment further posits that Lau established fraudulent email accounts and forged the signatures of at least seven persons to circulate misleading financial documents. Her actions allegedly included placing a falsified bank statement at a branch to mislead an investor partner who wished to confirm GameOn’s financial status in person. Security footage from this bank visit was subsequently used as evidence by the FBI.
Lau is also facing an obstruction of justice charge for purportedly destroying evidence to conceal the operation.
## **Opulent Lifestyle Funded by Deceit**
While GameOn employees reportedly went without their salaries and the company struggled to cover payroll, Beckman and Lau allegedly siphoned off investor funds for personal expenditures. The couple stands accused of utilizing the embezzled funds to acquire extravagant properties, including a $4.2 million home in San Francisco, and to finance their 2023 wedding. Additional possessions, such as a Tesla Model X, could also be subject to forfeiture if the couple is found guilty.
## **The Scheme Collapses**
The flaws in the scheme began to surface in 2023 as investors grew suspicious of GameOn’s financial statements and client affiliations. By February 2024, Beckman reportedly confessed to a consultant that an audit report was misleading but attempted to redirect blame elsewhere.
Despite these acknowledgments, Beckman allegedly persisted in fabricating financial documents and establishing fraudulent email accounts to attract further investments. The scheme ultimately unraveled in mid-2024 when an investor partner insisted on verifying a bank statement in person. Lau’s attempt to introduce a fake statement to the bank was captured on security cameras, intensifying scrutiny. Beckman stepped down from GameOn in July 2024.
## **Consequences for Employees and Clients**
The ramifications of the alleged fraud extend beyond just investors. GameOn employees and clients reportedly also suffered due to the scheme. According to the indictment, the company frequently operated on the verge of bankruptcy, with employees at times not receiving their pay. Beckman allegedly deceived investors regarding client relationships, inaccurately claiming revenue from clients who were actually owed funds by GameOn.
Prominent brands that collaborated with GameOn, including the NFL, Valentino, and Live Nation, have not yet issued any statements regarding the allegations. The indictment implies that these partnerships were misrepresented to investors, exacerbating the reputational damage for both GameOn and its partners.
## **Possible Ramifications**
If found guilty, Beckman could face a maximum prison sentence exceeding 60 years, while Lau may be subjected to up to 80 years. The couple could also be ordered to surrender assets acquired with the fraudulent funds, including their home in San Francisco and other properties.
This case underscores the dangers associated with unbridled ambition and deception.
