UK Councillor Promoted Alleged $1.9bn HyperVerse Scheme Now Sits on City Audit Committee
Susan Lawrence, a UK councillor in Wolverhampton, is facing scrutiny for her past role in promoting the HyperVerse cryptocurrency scheme, which has been labeled a fraudulent Ponzi operation. Despite this history, she currently serves on the city's audit and risk committee, raising concerns about governance and vetting processes.
Why it matters
The situation highlights the risks of crypto-related financial fraud and raises questions about the integrity of local government oversight committees.
UK Councillor Promoted Alleged $1.9bn HyperVerse Scheme Now Sits on City Audit Committee | KuCoin
UK Councillor Promoted Alleged $1.9bn HyperVerse Scheme Now Sits on City Audit Committee
A UK councillor in Wolverhampton, Susan Lawrence, who promoted the alleged $1.89bn HyperVerse scheme, now sits on the city’s audit and risk committee. HyperVerse, active from 2020 to 2022, operated as a pyramid and Ponzi scheme with no real revenue, leaving many investors in financial ruin. Despite warnings from the FCA, Lawrence continued to support related ventures, including Vidilook, as a 'super leader.' Reform UK claims she lost her pension and later tried to recover funds, denying current involvement. The party has not confirmed whether her past was assessed during vetting. Risk-on assets have seen renewed attention, but liquidity and crypto markets remain fragile in light of such controversies.
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