Susan Lawrence, a Reform UK councillor, serves on Wolverhampton City Council's Audit and Risk Committee after promoting HyperVerse, The Guardian reports.
Her history as a promoter now sits alongside a public role on a committee that scrutinises governance, risk and financial reporting. For a UK consumer who invested in HyperVerse, the immediate question is what protection applied when withdrawals failed.
FCA Warning and UK Consumer Protection
The FCA first warned about the operation on 23 March 2021. Its current warning, updated on 9 February 2024, lists HyperFund, HyperVerse, HyperNation and HyperCommunity. The regulator says the firm was unauthorised and might be targeting UK consumers.
The FCA says people dealing with the firm would not have access to the Financial Ombudsman Service or protection from the Financial Services Compensation Scheme. The SEC says the scheme collapsed in 2022, so the warning describes historical exposure rather than an indication that the platform remains available.
The Guardian reported that some investors borrowed to buy memberships and later said they felt suicidal when they could not withdraw funds. It also cited cases of self-harm.
Lawrence Promoted HyperVerse After FCA Warning
The Guardian identified Lawrence as one of HyperVerse's main UK promoters. It reported that she continued to promote the scheme and later versions after the FCA warning, appearing in marketing videos and webinars intended to recruit participants.
In a 2022 presentation, The Guardian reported, Lawrence addressed HyperVerse members concerned they could no longer access their invested funds. Authorities have not accused Lawrence of wrongdoing.
HyperFund's Crypto Membership and Recruitment Model
HyperFund, later known under the HyperVerse name, sold online memberships paid for in cryptocurrency. The SEC complaint says members were credited with HyperUnits and offered daily rewards of 0.5% to 1%, with the prospect of tripling an initial investment in 600 days.
The complaint alleges that the platform rewarded members for recruiting new investors, with commissions extending through as many as 20 levels. It also alleges that withdrawals were paid from new investor deposits.
The DOJ says HyperFund began blocking withdrawals in 2021; the SEC complaint says investors could no longer withdraw when the scheme collapsed in 2022. Both are allegations in legal filings.
US Cases and the $1.89 Billion Allegation
The US indictment alleges HyperFund obtained about $1.89 billion (£1.41 billion) from investors worldwide. That figure remains an allegation in the criminal case against co-founder Sam Lee, who was charged in 2024 with conspiracy to commit securities and wire fraud. The Guardian reports that Lee denies the charges.
Promoters Brenda Chunga and Rodney Burton pleaded guilty in 2024 and 2026, respectively, to separate federal offences in related proceedings. The SEC's civil complaint alleges investors were attracted by claims of profits from crypto-mining operations that did not exist.
Reform UK's Response and Lawrence's Council Role
Lawrence did not respond to The Guardian. A Reform UK spokesperson said she was herself a victim who lost her pension and tens of thousands of pounds, and that she later joined HyperNation in an attempt to recover the money.
The party said Lawrence had not been questioned by any authority and had no current involvement in the schemes. The Guardian reported that Reform did not answer whether its vetting team had identified her past promotion.
Council records list Lawrence as a committee member. The committee independently reviews governance, risk and internal controls, and oversees financial reporting.
