San Francisco Tech Founder, Wife Charged in Alleged Fraud Scheme

San Francisco Tech Founder, Wife Charged in Alleged Fraud Scheme

San Francisco tech innovator Alex Beckman and his wife Valerie Lau face charges for allegedly orchestrating a massive fraud scheme that deceived investors out of over $60 million.

Quick Takes

  • A 25-count indictment was unsealed against Alex Beckman and Valerie Lau.
  • They allegedly defrauded investors of over $60 million through their company, GameOn.
  • The couple reportedly used investor funds for personal expenses.
  • If convicted, they face significant prison sentences.

Tech Couple’s Alleged Fraud Scheme Unveiled

A comprehensive 25-count indictment reveals that Alexander Charles Beckman, a tech pioneer, and his wife Valerie Lau, are charged with conspiracy, securities fraud, wire fraud, and other serious offenses. Beckman, the founder and former CEO of GameOn, and Lau, an attorney, are accused of deceiving investors out of more than $60 million.

Investor funds were allegedly misappropriated to finance the couple’s personal indulgences, such as private school payments and real estate investments. Both individuals are facing severe penalties, including up to 30 years in prison for bank fraud conspiracy.

Fabricated Documents and Misleading Statements

Among the numerous allegations, Beckman reportedly fabricated financial documents, including audit reports and bank statements, in an effort to mislead investors. Lau allegedly aided in this deception by providing genuine audit reports from her employer which were then manipulated to support Beckman’s false claims.

The federal investigation has revealed that fraudulent activities occurred between September 2018 and July 2024. During this period, the couple purportedly faked bank records and impersonated business contacts to further their fraudulent scheme.

Legal Proceedings and Broader Implications

Following their arrest, Beckman and Lau appeared in court in San Francisco. Prosecuted by Assistant U.S. Attorney Patrick O’Brien, the case has been marked as a pivotal instance of holding corporate fraudsters accountable.

Valerie Lau is also accused of attempting to delete pertinent files during the grand jury investigation, leading to additional charges of obstruction of justice. As the proceedings unfold, the public’s role in reporting corporate fraud is highlighted.

Sources

  1. Founder And Former CEO Of San Francisco Technology Company And Attorney Indicted For Years-Long Fraud Schemes
  2. Tech founder and his wife allegedly stole millions to pay for a lavish wedding, a new Tesla, and private schools—while failing to even make payroll for employees
  3. San Francisco tech founder and wife arrested for allegedly defrauding investors out of millions
  4. San Francisco tech founder and wife arrested for allegedly defrauding investors out of millions