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Two individuals have been formally charged in connection with the downfall of a pre-paid funeral company that caused significant financial losses to tens of thousands of customers. Approximately 46,000 clients were affected when Safe Hands Plans Ltd (SHP) went into administration in 2022, resulting in many losing substantial sums of money. The Serious Fraud Office (SFO) announced charges against Richard Wells and Neil Debenham, accusing them of conspiracy to defraud. Wells was formerly the director of SHP Capital Holdings Ltd, Safe Hands’ parent company, while Debenham served as a senior executive within the organization. Both men are scheduled to appear at Westminster Magistrates’ Court on February 5.
The SFO described the charges against Wells, aged 39 and currently residing in Spain, and Debenham, 43, from Norwich, as a “critical step” in the ongoing investigation. Emma Luxton, director of operations at the SFO, highlighted that the customers who had paid in advance were left vulnerable, financially harmed, and uncertain about their future funeral arrangements. Pre-paid funeral plans are intended to enable people to fund their own funerals ahead of time, easing financial burdens for their families after passing. Since July 2022, companies offering these services must have approval from the Financial Conduct Authority (FCA) to operate, a regulatory measure introduced after Safe Hands had already collapsed.
Safe Hands was among many companies providing pre-paid funeral plans in a sector that was largely unregulated until recent changes. Its collapse occurred four months before these new FCA approval requirements came into effect. The administrator firm FRP Advisory initially projected that customers might reclaim between 8.5 pence and 12.5 pence per pound lost by June 2025. Nonetheless, delays of six months pushed repayments much lower than expected, with those affected receiving roughly 4 pence on the pound. In total, outstanding debts owed to planholders are estimated at around £70.6 million.
Some individuals impacted shared their personal experiences. Denise Hudson, from Derby, had paid nearly £2,500 for a Safe Hands plan in 2019 after seeing an advertisement. When she was given a refund cheque for less than £100 by the administrators, she expressed her disappointment, saying, “That was my savings. I gave it in good faith. I actually thought what it said on the tin, it is in safe hands.” Denise revealed to the BBC that she considered framing the small cheque as a symbol of her continued resolve to fight for justice. Similarly, Sandie and David Beatty from Nottinghamshire felt “angry, disappointed, sick” when the company folded after having paid £3,395 in 2017 to secure funeral costs. Another customer, Aimee Geary, an NHS worker from Leicestershire who had paid £3,000, reflected on her experience by saying, “Other people thought I was young [to be planning my funeral]. I’m very organised, and I didn’t want anyone else to have a job when I’m not here. It’s sad that you try to plan something and it has been taken away from you.
Read the full article from The BBC here: Read More
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