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2026-11-07T07:00:04.000Z

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Councillor's Ponzi pitch

Councillor's Ponzi pitch

Reform UK councillor Susan Lawrence, now on Wolverhampton city council’s audit and risk committee, promoted HyperVerse and related cryptocurrency schemes, which US court documents described as alleged pyramid and Ponzi schemes that cost investors worldwide $1.89bn. The scheme collapsed after spreading from 2020 to 2022, leaving many unable to withdraw funds; some victims reported suicidal feelings and self-harm. Lawrence has not been accused of wrongdoing by authorities, and Reform UK said she was herself a victim who lost her pension and tens of thousands of pounds.

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