The former CEO of GameOn Inc. and his wife defrauded investors out of more than $60 million by falsely inflating the AI chat startup’s financial performance and commercial success, the Securities and Exchange Commission alleged in a suit.
GameOn’s ex-CEO Alexander Beckman and Valerie Lau falsely represented to investors that the chat technology company had generated tens of millions of dollars in annual revenue and positive net income from contracts with high-profile customers, according to the complaint.
The fraudulent reports reflected millions of dollars in recurring revenue from customers including Coca-Cola Co., the National Basketball Association, the National Hockey League, ...
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