● Covered by 1 source · 1 reportLow impact1 negative
Reform UK Councillor Promoted Collapsed $1.9 Billion HyperVerse Crypto Scheme
Key points
- Susan Lawrence, a Reform UK councillor, promoted HyperVerse.
- HyperVerse is an alleged $1.89 billion crypto Ponzi scheme.
- Lawrence promoted it despite a UK FCA warning.
- She now serves on Wolverhampton City Council's audit committee.
Councillor's Involvement in HyperVerse
Susan Lawrence, a newly elected Reform UK councillor for Wolverhampton City Council, was a prominent UK promoter of the HyperVerse cryptocurrency scheme. This scheme has been cited in US court documents as an alleged "pyramid and Ponzi scheme" that defrauded investors globally of $1.89 billion.
Lawrence's promotional activities included participating in videos and webinars to market the project and recruit new participants. She continued to promote HyperVerse, or its variations, even after the UK's Financial Conduct Authority (FCA) issued a consumer warning in 2021, advising the public to avoid dealing with the firm due to potential unauthorized financial services.
Impact on Investors and Regulatory Warnings
The HyperVerse scheme operated from 2020 to 2022, affecting investors in the US, UK, Asia, Africa, and the Pacific. Its collapse left many unable to access their funds, leading to significant financial distress among victims, with some reporting suicidal feelings.
The FCA's 2021 warning explicitly stated, "You should avoid dealing with this firm and beware of scams." Despite this, Lawrence addressed HyperVerse community members in a 2022 presentation who were concerned about fund access.
Links to Other Schemes and Legal Actions
Lawrence is also connected to other cryptocurrency schemes promoted by Sam Lee, HyperVerse's alleged co-founder. Lee, an Australian bitcoin entrepreneur, was charged in the US in 2024 with both civil and criminal offenses related to his role in the HyperVerse schemes.
Lawrence traveled to Dubai to meet Lee and was filmed promoting two other related investment schemes. She was also referred to as a "super leader" for one of Lee's investment platforms, "Vidilook," a status typically based on the number of recruits.
Current Role in Local Government
Currently, Lawrence serves on Wolverhampton City Council's audit and risk committee. This committee is responsible for independently reviewing governance, risk management, and overseeing financial reporting for a multimillion-pound budget. Authorities have not personally accused Lawrence of wrongdoing.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
A Reform UK councillor, Susan Lawrence, promoted the HyperVerse cryptocurrency scheme, which US court documents identified as an alleged "pyramid and Ponzi scheme" that defrauded investors of $1.89 billion. Lawrence, now on Wolverhampton City Council's audit and risk committee, continued promoting the scheme even after the UK's Financial Conduct Authority issued a warning.