Susan Lawrence, elected to Wolverhampton city council on the Reform UK ticket, promoted HyperVerse, a cryptocurrency scheme that US court documents named as an alleged "pyramid and Ponzi scheme" that defrauded investors of $1.89bn between 2020 and 2022.
Lawrence now sits on the council's audit and risk committee, which reviews governance and oversees financial reporting for a multimillion-pound budget. She was one of the scheme's main UK promoters, appearing in promotional videos and webinars and travelling to Dubai to meet Sam Lee, the scheme's alleged co-founder. Lee was charged in the US in 2024 with civil and criminal offences related to HyperVerse. He has denied all charges.
The Financial Conduct Authority issued a consumer warning about HyperVerse in 2021. Some victims took out bank loans to invest and reported feeling suicidal when unable to access their funds.
Lawrence has not been accused of wrongdoing by authorities. A Reform UK spokesperson said she was "one of many victims" who lost her pension and tens of thousands of pounds, and later became involved with HyperNation attempting to recoup losses. The spokesperson said she was not employed by Desmond Amey, the scheme's key UK-based promoter, and has not been questioned by authorities.
Lawrence did not respond to requests for comment. Reform UK did not answer whether its vetting process identified her background with the scheme.