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Man Arrested for Raising $60 Million for AI Startup, Instead Spending It on Luxurious Lifestyle

Victor Tangermann

created: Feb. 2, 2025, 3:45 p.m. | updated: March 19, 2025, 5:36 p.m.

<p>The founder of San Francisco-based AI startup On Platform was arrested last week after prosecutors found that he and his wife had blown millions of dollars on San Francisco properties, jewelry, luxury cars, and their wedding. Prosecutors allege that the pair defrauded investors out of more than $60 million, as as SFGate reports. Founder Alex Beckman and his lawyer Valerie Lau, who he recently married, appeared in San Francisco court last week, after being charged with "conspiracies to commit wire, bank and securities fraud, as well as aggravated identity theft and obstruction of justice," per SFGate. It's a particularly outlandish […]</p>

5 months, 1 week ago: Futurism