Susan Lawrence’s Controversial Role on Wolverhampton City Council

The recent election of Susan Lawrence, a prominent figure associated with the HyperVerse cryptocurrency scheme, has raised eyebrows as she now holds a position on the audit and risk committee of Wolverhampton City Council. This body is crucial for overseeing financial governance related to the council’s multimillion-pound budget.

The HyperVerse Scheme: A Background

Lawrence was a key promoter of the HyperVerse scheme in the UK, which has been described in US legal documents as an “alleged pyramid and Ponzi scheme.” The scheme reportedly defrauded investors of approximately $1.89 billion (£1.41 billion) worldwide from its inception in 2020 until its collapse in 2022. The scam particularly targeted individuals in developing nations, including regions in Asia, Africa, and the Pacific.

Impact on Investors

The consequences for investors involved in HyperVerse were devastating. Many individuals reported severe emotional distress when they were unable to withdraw their investments, with some having taken out bank loans to participate in the scheme. Instances of suicidal thoughts and self-harm were reported as a result of financial losses.

Lawrence’s Continued Involvement

Despite warnings from the UK’s Financial Conduct Authority (FCA) — which advised the public to avoid dealing with HyperVerse — Lawrence persisted in promoting the scheme and its derivatives. The FCA cautioned in 2021 that the firm was possibly offering financial products without proper authorization, urging consumers to be vigilant regarding potential scams. Lawrence’s involvement persisted as she addressed community concerns related to accessing invested funds in 2022.

Links to Other Cryptocurrency Initiatives

In addition to her role with HyperVerse, Lawrence is reportedly associated with other investment schemes linked to Sam Lee, a co-founder of HyperVerse who later faced legal charges in the US for his alleged involvement in fraudulent activities. Lawrence made trips to Dubai, where she was recorded promoting additional investment opportunities, further solidifying her role in similar ventures.

Reform UK’s Response and Future Implications

Lawrence’s election as a councillor under Reform UK has prompted questions regarding the party’s vetting procedures. Although a spokesperson for Reform UK clarified that Lawrence was a victim of the HyperVerse scheme, losing her pension and tens of thousands of pounds, there remains speculation about whether the party’s vetting process adequately addressed her background.

Reform UK stated that Lawrence currently has no involvement with the HyperVerse or any associated schemes and emphasized that she has not been questioned by authorities regarding her past affiliations.

Seeking Help and Support

If you or someone you know is struggling with feelings of distress or suicidal thoughts, numerous support services are available:

• In the UK and Ireland, contact Samaritans at freephone 116 123.
• In the US, reach out to the 988 Suicide & Crisis Lifeline at 988 or visit 988lifeline.org.
• In Australia, Lifeline can be reached at 13 11 14.
• For international resources, visit befrienders.org.