Two charged after collapse of funeral plan firm Safe Hands

Two men have been charged after an investigation into suspected fraud at a collapsed funeral plan provider.

The Serious Fraud Office (SFO) said it has charged Richard Wells, 39, residing in Spain, and Neil Debenham, 43, of Norwich, with conspiracy to defraud.

It comes after an investigation by the SFO into potential fraud at funeral plan business Safe Hands and parent firm SHP Capital Holdings.

Mr Wells is the former director of SHP Capital while Mr Debenhams was a senior executive at the business.

Safe Hands Plans was a pre-paid funeral plan business which collapsed into administration in 2022.

The SFO said the charges relate to the failure of the business after it was unable to secure necessary regulatory approval for the ongoing sale of its plans.

Around 46,000 people had bought plans before the company collapsed, expecting a contribution towards future funeral costs.

After the collapse of Safe Hands, it was no longer able to uphold its pledge to ensure that someone’s funeral was paid for when they died.

FRP said creditors of the company have claimed around £70.6 million.

The SFO initially launched an investigation into the business in 2023.

Emma Luxton, director of operations at the SFO, said: “This scheme marketed peace of mind to tens of thousands of people, many of them vulnerable.

“That promise dissolved when it collapsed, leaving plan holders exposed, out of pocket and uncertain about their funeral arrangements.

“Today’s charges mark a critical step in our investigation.”

The men are due to appear at Westminster Magistrates’ Court on February 5.