Reform UK Councillor Linked to Collapsed Crypto Scheme

A newly elected local politician in the United Kingdom who previously promoted a collapsed cryptocurrency project now serves on a key oversight panel. Susan Lawrence, who secured a seat on Wolverhampton city council representing Reform UK, participates in the authority's audit and risk committee. This committee independently reviews governance and internal risk management while overseeing financial reporting tied to a multimillion-pound budget.

Before entering her current municipal role, Lawrence served as a prominent UK promoter for the HyperVerse cryptocurrency project. US court documents previously identified the enterprise as an alleged pyramid and financial Ponzi scheme that defrauded global investors out of approximately $1.89bn. The operation expanded across the United States and the United Kingdom between 2020 and 2022, subsequently targeting participants across Asia, Africa, and the Pacific prior to its eventual collapse.

The cessation of the platform left numerous participants without access to their capital. In specific instances, individuals who secured bank loans to purchase digital packages reported feeling suicidal upon realizing they could not withdraw funds, alongside documented episodes of self-harm. Despite a formal caution issued by the Financial Conduct Authority in 2021 warning the public to avoid the enterprise, Lawrence continued marketing the venture and its subsequent iterations.

Reform UK councillor Susan Lawrence promoted a collapsed crypto scheme that defrauded global investors.

Lawrence engaged in extensive promotional webinars, traveled to Dubai to meet co-founder Sam Lee, and promoted related platforms including Vidilook, earning the designation of a super leader for recruiting new participants. Lee faced criminal and civil charges in the US during 2024 and denies all allegations. Meanwhile, Reform UK representatives stated that Lawrence was herself a victim of the fraud who lost significant personal funds and attempted to recover losses through subsequent network involvement.

Why it matters

The appointment places an individual with a documented background in promoting unregulated and collapsed digital asset schemes onto a public body responsible for financial governance and risk oversight. This case highlights ongoing scrutiny regarding political party vetting procedures concerning candidates with controversial histories in alternative investment promotions.