Charges Filed in Safe Hands Funeral Firm Collapse Affecting 46,000 Customers
Published 22 January 2026
Highlights
- Two men, Richard Wells and Neil Debenham, have been charged with conspiracy to defraud following the collapse of Safe Hands Plans Ltd.
- The collapse affected approximately 46,000 customers who lost money they had saved for pre-paid funeral plans.
- The Serious Fraud Office (SFO) described the charges as a "critical step" in its investigation into the unregulated funeral plan sector.
- Planholders are collectively owed an estimated £70.6 million, with repayments significantly lower than initially promised.
- The collapse occurred before new regulations by the Financial Conduct Authority took effect in July 2022.
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Rewritten Article
Headline: Charges Filed in Safe Hands Funeral Firm Collapse Affecting 46,000 Customers
In a significant development in the investigation of the collapsed pre-paid funeral firm Safe Hands Plans Ltd, two men have been charged with conspiracy to defraud. Richard Wells, 39, residing in Spain, and Neil Debenham, 43, from Norwich, are set to appear at Westminster Magistrates' Court on February 5. The charges come as part of an ongoing probe by the Serious Fraud Office (SFO) into the financial debacle that left around 46,000 customers financially stranded.
Background of the Collapse
Safe Hands Plans Ltd, a company offering pre-paid funeral plans, went into administration in 2022, leaving its customers out of pocket. The firm was part of the previously unregulated sector, which promised peace of mind to individuals planning their funerals in advance. However, the collapse of the company shattered these assurances, with planholders facing significant financial losses.
Investigation and Charges
The SFO has been investigating potential fraud at Safe Hands and its parent company, SHP Capital Holdings. Wells, a former director of SHP Capital, and Debenham, a senior executive, are accused of orchestrating a scheme that defrauded thousands. Emma Luxton, director of operations at the SFO, emphasized the impact on vulnerable customers, stating, "That promise dissolved when it collapsed, leaving planholders exposed, out of pocket and uncertain about their funeral arrangements."
Financial Repercussions for Planholders
The financial implications for those affected are severe. Initially, administrators suggested that planholders might recover between 8.5p and 12.5p for every pound lost by June 2025. However, the actual repayments have been much lower, around 4p per pound. The total amount owed to planholders is estimated at £70.6 million.
Personal Stories of Loss
Among those affected is Denise Hudson from Derby, who invested nearly £2,500 in a Safe Hands plan after seeing a TV advertisement in 2019. She received a cheque for less than £100 from the administrators. Similarly, Sandie and David Beatty from Nottinghamshire, and Aimee Geary from Leicestershire, shared their frustrations and disappointment over the collapse.
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Scenario Analysis
The upcoming court appearance of Wells and Debenham marks a pivotal moment in the investigation. If found guilty, the case could set a precedent for how fraud in the pre-paid funeral sector is handled, potentially leading to stricter regulations and oversight. The Financial Conduct Authority's new regulations, which came into effect in July 2022, aim to prevent such occurrences in the future. However, the financial recovery for affected planholders remains uncertain, and the case highlights the need for vigilance and transparency in financial services.
In a significant development in the investigation of the collapsed pre-paid funeral firm Safe Hands Plans Ltd, two men have been charged with conspiracy to defraud. Richard Wells, 39, residing in Spain, and Neil Debenham, 43, from Norwich, are set to appear at Westminster Magistrates' Court on February 5. The charges come as part of an ongoing probe by the Serious Fraud Office (SFO) into the financial debacle that left around 46,000 customers financially stranded.
Background of the Collapse
Safe Hands Plans Ltd, a company offering pre-paid funeral plans, went into administration in 2022, leaving its customers out of pocket. The firm was part of the previously unregulated sector, which promised peace of mind to individuals planning their funerals in advance. However, the collapse of the company shattered these assurances, with planholders facing significant financial losses.
Investigation and Charges
The SFO has been investigating potential fraud at Safe Hands and its parent company, SHP Capital Holdings. Wells, a former director of SHP Capital, and Debenham, a senior executive, are accused of orchestrating a scheme that defrauded thousands. Emma Luxton, director of operations at the SFO, emphasized the impact on vulnerable customers, stating, "That promise dissolved when it collapsed, leaving planholders exposed, out of pocket and uncertain about their funeral arrangements."
Financial Repercussions for Planholders
The financial implications for those affected are severe. Initially, administrators suggested that planholders might recover between 8.5p and 12.5p for every pound lost by June 2025. However, the actual repayments have been much lower, around 4p per pound. The total amount owed to planholders is estimated at £70.6 million.
Personal Stories of Loss
Among those affected is Denise Hudson from Derby, who invested nearly £2,500 in a Safe Hands plan after seeing a TV advertisement in 2019. She received a cheque for less than £100 from the administrators. Similarly, Sandie and David Beatty from Nottinghamshire, and Aimee Geary from Leicestershire, shared their frustrations and disappointment over the collapse.
What this might mean
The upcoming court appearance of Wells and Debenham marks a pivotal moment in the investigation. If found guilty, the case could set a precedent for how fraud in the pre-paid funeral sector is handled, potentially leading to stricter regulations and oversight. The Financial Conduct Authority's new regulations, which came into effect in July 2022, aim to prevent such occurrences in the future. However, the financial recovery for affected planholders remains uncertain, and the case highlights the need for vigilance and transparency in financial services.
