Between 2020 and 2022, Susan Lawrence recruited participants through webinars and videos for the fraudulent crypto scheme HyperVerse, which ultimately defrauded investors worldwide of nearly $1.9bn. Even after the UK Financial Conduct Authority cautioned against the firm in 2021, she persisted in promotional efforts alongside figures who were later targeted by domestic courts and international prosecutors. Reform UK defended the councillor, stating she was an innocent victim who lost her pension before attempting to recoup funds through an associated entity. She has not been accused of any legal wrongdoing by authorities.
Key points
Reform UK stated that Lawrence was an unwitting victim who lost tens of thousands of poun…: Reform UK stated that Lawrence was an unwitting victim who lost tens of thousands of pounds alongside her pension.
Law enforcement and regulatory authorities have not accused the sitting councillor of any…: Law enforcement and regulatory authorities have not accused the sitting councillor of any personal wrongdoing.
The political party declined to confirm whether its background vetting process detected h…: The political party declined to confirm whether its background vetting process detected her prior cryptocurrency promotion activities.
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A woman who promoted a notorious cryptocurrency scam has been elected as a Reform UK councillor and now sits on the audit and risk committee of a major city council.
Susan Lawrence was one of the main UK promoters of the HyperVerse cryptocurrency scheme, which was named in US court documents as an alleged “pyramid and Ponzi scheme” that cheated investors worldwide out of a “staggering” $1.89bn (£1.41bn).
The HyperVerse scheme spread through the US and the UK from 2020 to 2022, and also targeted investors in developing countries across Asia, Africa and the Pacific before its eventual collapse left many people unable to access funds.
In some cases, people who took out bank loans to buy packages in the scheme said they felt suicidal when they were unable to withdraw their money, with some cases of self-harm.
Lawrence is now a Reform councillor on Wolverhampton city council and sits on the authority’s audit and risk committee, which independently reviews governance and risk management and oversees the financial reporting relating to a multimillion-pound budget.
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