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.
Lawrence, who has not personally been accused of wrongdoing by authorities, promoted the HyperVerse scheme, or later variations of it, even after the UK’s Financial Conduct Authority (FCA) issued a consumer warning that the firm may have been promoting financial services or products without the regulator’s permission.
“You should avoid dealing with this firm and beware of scams,” the FCA said in a 2021 warning.
In a 2022 presentation, Lawrence addressed members of the HyperVerse community who were concerned they could no longer access their invested funds.
Lawrence, who worked with a fraudster whose company was later forcibly shut down by the UK high court, participated in lengthy promotional videos and webinars to market the project to the public and recruit new participants.
She is also linked to various other cryptocurrency schemes that were promoted by HyperVerse’s alleged co-founder Sam Lee, an Australian bitcoin entrepreneur who moved to Dubai in 2021.
Lee was charged in the US in 2024 with both civil and criminal offences for his role in the HyperVerse schemes. He has denied all charges.
Lawrence travelled 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 called “Vidilook”. The status of a group participant is usually based on how many other people they recruit into the scheme.
Lawrence continued to promote iterations of the same network, including one that was later subject to a cease and desist order by US federal authorities which described it as a “fraudulent pyramid and Ponzi scheme”. US authorities said: “It does not sell or purport to sell any actual product and has no apparent source of revenue other than funds received from investors.”
She promoted the Ponzi schemes alongside Desmond Amey, the scams’ key UK-based promoter. The UK’s high court acted to shut down the company used by him to funnel millions of pounds into the platforms.
Lawrence did not respond when approached by the Guardian. A spokesperson for Reform UK said: “Cllr Lawrence was one of many victims of this scam, losing her pension and tens of thousands of pounds on a scheme she believed was genuine.
“She later became involved with HyperNation in an attempt to recoup the money she had lost.
“She was not employed by Des Amey and has not been questioned by any authority over her links. Cllr Lawrence has no current involvement in any of these companies or any similar schemes.”
Reform, which has been under renewed pressure over its vetting processes amid new allegations about the conduct of councillors and candidates, did not respond to a question about whether its vetting team had picked up on Lawrence’s background.
