Reform UK Councillor Linked to $1.9bn Crypto Scandal

Published: 07 November 2026. The English Chronicle Desk. The English Chronicle Online

A newly elected Reform UK councillor has come under scrutiny over her previous involvement in promoting a cryptocurrency investment scheme that collapsed after allegedly defrauding investors around the world of approximately $1.89 billion. The controversy has raised questions about political candidate vetting, financial accountability and the potential risks of allowing individuals with controversial financial backgrounds to hold positions overseeing public money.

Susan Lawrence, who represents Reform UK on Wolverhampton City Council, was previously one of the prominent UK-based promoters of the HyperVerse cryptocurrency scheme. The investment platform was identified in United States court documents as an alleged pyramid and Ponzi scheme that caused substantial financial losses for investors across several continents.

Lawrence now serves on the council’s audit and risk committee, a body responsible for independently examining governance arrangements, assessing financial risks and reviewing financial reporting connected to the authority’s multimillion-pound budget. Her appointment has attracted attention because of the nature of the cryptocurrency scheme she previously promoted and the responsibilities associated with her current council position.

HyperVerse operated through an international network between 2020 and 2022, attracting investors in the United Kingdom, the United States and several developing countries across Asia, Africa and the Pacific. The scheme reportedly expanded through online promotional campaigns, investment presentations and recruitment networks that encouraged participants to purchase packages and bring additional investors into the platform.

Investors were attracted by promises associated with cryptocurrency-related opportunities and the prospect of generating substantial returns. However, the platform eventually collapsed, leaving many participants unable to access their invested funds. The reported financial losses were enormous, with US court documents placing the alleged scale of the operation at approximately $1.89 billion, equivalent to around £1.41 billion.

The consequences extended beyond financial disappointment. Some investors reportedly borrowed money from banks and other financial institutions to purchase investment packages, believing that the platform would provide sufficient returns to repay their obligations. When withdrawals became impossible, several participants experienced severe financial and emotional distress.

In particularly disturbing cases, victims reportedly described feeling suicidal after losing their savings and becoming trapped in debt. There were also reports of self-harm among people affected by the collapse. The experiences highlighted the devastating human consequences that can follow large-scale investment fraud, particularly when individuals invest money they cannot afford to lose.

Lawrence’s previous activities have become a central part of the controversy because she reportedly continued promoting HyperVerse and related investment platforms after the UK’s Financial Conduct Authority issued a public warning about the business.

In 2021, the FCA published a consumer warning concerning HyperFund, HyperVerse, HyperNation and related operations. The regulator cautioned that the organisation might have been promoting financial services or products without the necessary authorisation. It advised consumers to avoid dealing with the firm and remain alert to potential scams.

Despite the warning, Lawrence continued participating in promotional activities connected to the investment network. In a presentation delivered in 2022, she addressed members of the HyperVerse community who were concerned about their inability to withdraw invested funds. Her involvement also reportedly included extended promotional videos and online webinars designed to explain the platform and attract new participants.

Her activities have attracted further scrutiny because of her association with Desmond Amey, a UK-based promoter linked to the investment network. Amey’s company was subsequently shut down through action by the UK High Court after concerns involving the movement of millions of pounds into the investment platforms.

Lawrence was also connected to other cryptocurrency-related projects promoted by Sam Lee, an Australian bitcoin entrepreneur identified as an alleged co-founder of HyperVerse. Lee moved to Dubai in 2021 and later became involved in several investment ventures associated with the wider network.

According to the reported findings, Lawrence travelled to Dubai to meet Lee and appeared in promotional material for two other investment platforms. She was also described as a “super leader” within Vidilook, another project associated with Lee. Such titles were reportedly connected to the recruitment structure of the platform, with participants receiving recognition based partly on the number of people they brought into the network.

The controversy did not end with HyperVerse. Lawrence reportedly continued promoting different versions of the same investment network, including a platform that later became the subject of a cease-and-desist order issued by US federal authorities.

The American authorities described the operation as an alleged fraudulent pyramid and Ponzi scheme. Their assessment stated that the platform did not appear to sell any genuine products or services and had no identifiable source of revenue beyond money received from investors.

Such allegations have intensified questions about how the investment platforms operated and how promotional networks helped them attract participants. Cryptocurrency investment schemes frequently rely on online communities, social media personalities and recruitment-based marketing to build credibility. When promotional figures appear confident and present themselves as experienced investors, inexperienced participants may be more willing to commit their savings.

However, it is important to distinguish between promoting an investment scheme and being legally responsible for operating a fraudulent business. Lawrence has not personally been accused of wrongdoing by law enforcement authorities, according to the reported information. There is also no indication that she has been formally charged in connection with the alleged fraud.

Reform UK has defended its councillor, offering an explanation of her involvement that differs from the concerns surrounding her promotional activities.

A party spokesperson said Lawrence was herself a victim of the cryptocurrency scheme and had lost her pension along with tens of thousands of pounds after investing in a platform she believed to be legitimate. The spokesperson further explained that she subsequently became involved with HyperNation in an effort to recover the money she had lost.

The party also maintained that Lawrence was not employed by Desmond Amey and had not been questioned by any authority regarding her connections to the investment platforms. According to Reform UK, she has no current involvement in those companies or similar investment schemes.

Lawrence did not respond when approached for comment about the allegations and questions surrounding her previous promotional activities.

The controversy has nevertheless created a difficult political situation for Reform UK, which has faced renewed scrutiny over its procedures for examining the backgrounds of councillors and prospective candidates. Questions have emerged about whether the party’s vetting arrangements were sufficiently thorough and whether Lawrence’s previous involvement in cryptocurrency investment promotions was identified before her election.

The issue is particularly significant because of her current position on Wolverhampton City Council’s audit and risk committee. Members of such committees are expected to exercise careful judgement, examine financial information independently and help ensure that public resources are managed responsibly.

Although previous involvement in a failed investment scheme does not automatically establish misconduct or make someone unsuitable for public office, the circumstances surrounding the HyperVerse collapse have raised legitimate questions about transparency and public confidence.

For residents of Wolverhampton, the controversy also highlights the importance of accountability among elected representatives. Council committees dealing with financial oversight play an important role in protecting taxpayers’ money, identifying financial risks and ensuring that local authorities operate transparently.

The wider HyperVerse scandal serves as a warning about the dangers of cryptocurrency investment schemes that rely heavily on recruitment, unrealistic financial expectations and promises of substantial returns. Investors can face devastating consequences when platforms collapse, particularly when they have borrowed money or invested their retirement savings.

As concerns surrounding Lawrence’s political appointment continue, attention is likely to remain focused on Reform UK’s candidate-selection procedures and the standards expected of councillors entrusted with public financial responsibilities. The central question is not simply whether an individual previously invested in a failed scheme, but whether the full circumstances of their involvement were properly examined before they were given an important public oversight role.