Reported 1 day ago
A Bay Area couple, Alexander Charles Beckman and Valerie Lau, is accused of fabricating contracts with major organizations like the NBA, NHL, and Coca-Cola to deceive investors and raise $60 million for their chatbot platform, GameOn. The SEC claims they faked audit reports and financial documents while using funds for personal expenses instead of properly investing in the business. The couple faces multiple criminal and civil charges, with potential prison sentences of decades as the SEC seeks restitution for their alleged fraudulent activities.
Source: YAHOO