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AI chat firm GameOn couple arrested for defrauding investors of over $60M to finance wedding and more
Authorities arrested GameOn Technology founder Alex Beckman and attorney Valerie Lau Beckman (a married couple) for allegedly defrauding investors of $60 million.
GameOn was a San Francisco-based private business that offers a software program claiming artificial intelligence functionality that mimics human conversation and interaction, commonly known as a chatbot or “chat.” “Fraud undermines the integrity of our capital markets and erodes the trust that investors place in them,” said FBI Acting Special Agent in Charge Dan Costin, in a statement. As alleged in the indictment, Beckman’s statements to GameOn investors often described non-existent revenue, inflated cash balances, and fake and otherwise exaggerated customer relationships.
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