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lexander Beckman, the founder and former CEO of AI company GameOn, and his wife Valerie Lau Beckman are accused of running a six-year scheme to defraud investors out of $60 million. The indictment alleges that the couple used funds for personal expenses, including two homes in San Francisco's upscale Presidio Heights neighborhood.

    The couple allegedly stole from GameOn investors, using the funds for private school tuition for their children, a Tesla Model X, jewelry, and credit card bills. They also used investor money to buy properties in San Francisco, paying off over $100,000 in personal property tax bills. In 2020, they took $360,000 from the company to purchase one home, and two years later transferred another $4.2 million into their accounts to buy a second home.

    The indictment reveals that the couple bought two properties in Presidio Heights: a condominium on Lyon Street for $1.5 million and a two-unit Victorian on Jackson Street for $4.25 million. They took out loans on both properties, with the loan for the Jackson Street property being assumed by J.P. Morgan after First Republic Bank failed.

    The indictment alleges that the couple tried to get a loan to pay back what they had taken from GameOn investors, but provided fictional board meeting minutes to secure the loan. After getting the $2.55 million loan, they transferred almost all of it to GameOn. Beckman resigned from the company last summer after higher-ups discovered only 37 cents in a bank account that they thought held $11 million.

    The couple pleaded not guilty on Thursday and faces potential forfeiture of their properties, including the Tesla Model X, if convicted.