Ismail J. Ramsey, U.S. Attorney | U.S. Attorney for the Northern District of California
A 25-count indictment was revealed today against Alexander Charles Beckman, the founder and former CEO of GameOn, Inc., and Valerie Lau Beckman, an attorney who worked on GameOn matters. The charges include conspiracy, wire fraud, securities fraud, identity theft, and other offenses. Additionally, Lau faces a charge of obstruction of justice.
The indictment claims that Beckman and Lau conspired to defraud investors in GameOn, a San Francisco-based company providing chatbot software. From September 2018 to July 2024, Beckman reportedly raised over $60 million from investors while allegedly using over $4 million for personal expenses. Lau was involved with GameOn from at least 2016 to 2024.
First Assistant United States Attorney Patrick D. Robbins stated: "The Bay Area is home to incredible innovation and hard-working entrepreneurs, but innovation cannot grow through fraud. Schemes like the ones that defendants are charged with threaten our financial markets and cheat investors." FBI Acting Special Agent in Charge Dan Costin added: "Fraud undermines the integrity of our capital markets and erodes the trust that investors place in them."
Beckman's alleged fraudulent activities included making false statements about revenue and customer relationships and using identities without permission to distribute false information. He also fabricated audit reports using reputable accounting firms' names.
Lau allegedly provided Beckman with genuine audit reports from her employer for creating fake ones for GameOn. She reportedly sent one such report to an investor's representative to secure further investment.
In June 2024, Lau delivered a fake account statement listing a balance of over $13 million when it was actually $25.93. She also attempted to delete files related to GameOn work when approached by her employer during a grand jury investigation.
Both Beckman and Lau were arrested today and appeared in federal court in San Francisco.
An indictment alleges crimes have been committed; defendants are presumed innocent until proven guilty beyond a reasonable doubt. If convicted, they face significant prison sentences for various charges.
Assistant U.S. Attorney Patrick O’Brien is prosecuting the case with assistance from Lance Libatique and Maryam Beros following an FBI investigation.
Anyone with information about corporate or securities fraud can contact the FBI or report allegations through appropriate channels.