Reform UK councillor who backed HyperVerse joins city audit committee
The Guardian reported that Susan Lawrence, a newly elected Reform UK councillor on Wolverhampton city council, has been appointed to the council's audit and…
The Guardian reported that Susan Lawrence, a newly elected Reform UK councillor on Wolverhampton city council, has been appointed to the council's audit and risk committee, which oversees the financial reporting of a multimillion‑pound budget. Lawrence was identified as one of the main UK promoters of the HyperVerse cryptocurrency scheme. US court documents described HyperVerse as an alleged “pyramid and Ponzi scheme” that cheated investors worldwide out of a “staggering” $1.89bn (£1.41bn). Her dual role – championing a scheme that authorities say defrauded billions and now supervising public financial controls – has drawn criticism. The Guardian noted that the appointment places Lawrence in a position to influence scrutiny of council spending despite her association with the controversial crypto project.
Why it matters
A promoter of a massive alleged crypto fraud now holds a key oversight role in local government finances, raising concerns about accountability and public trust.
Key details
- Location
- United Kingdom · Europe
- Reported by
- The Guardian
- First reported
- Key names
- Reform UK, HyperVerse, Susan Lawrence, Wolverhampton
- Section
- Politics
- Figure cited
- Susan Lawrence was one of the main UK promoters of the HyperVerse cryptocurrency scheme, which was named in US court documents as an alleged “pyramid and Ponzi scheme” that cheated investors worldwide out of a “staggering” $1.89bn (£1.41bn). (The Guardian)
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at The GuardianSpotted an error? Request a correction · How this summary was produced
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