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Reform councillor promoted crypto scheme later alleged to be a Ponzi scheme
Susan Lawrence, a Reform UK councillor elected to Wolverhampton city council, promoted cryptocurrency schemes named in legal documents as alleged Ponzi and pyramid schemes. Her role on the council’s audit and risk committee, which reviews governance and financial reporting, has drawn attention because she continued promoting versions of the schemes after a UK regulator issued a warning.
HyperVerse operated internationally from 2020 to 2022 and US court documents say it took $1.89bn (£1.41bn) from investors before collapsing. Lawrence has not been accused of wrongdoing by authorities; Reform says she lost her pension and tens of thousands of pounds, later tried to recover the money through a related scheme, and has no current involvement. The article says she did not respond to a request for comment.
In short
- Susan Lawrence promoted schemes described by authorities as alleged Ponzi schemes.
- She now serves on Wolverhampton council’s audit and risk committee.
- Reform says she was also a victim and has no current involvement.
Read the full article at the source →
Originally published by The Guardian as “Reform UK councillor promoted collapsed $1.9bn ‘Ponzi scheme’ HyperVerse that left victims suicidal”.