Serious Fraud Office brings conspiracy to defraud charges linked to the collapse of Safe Hands Plans
The Serious Fraud Office (SFO) has charged two former senior figures connected to Safe Hands Plans Limited as part of its ongoing investigation into suspected fraud at the prepaid funeral plan provider and its parent company.
Richard Wells, 39, who is resident in Spain, and Neil Debenham, 43, of Norwich, have each been charged with conspiracy to defraud. The charges relate to events surrounding the collapse of Safe Hands Plans Limited, which ceased trading in 2022 after failing to obtain the regulatory approval required to continue selling prepaid funeral plans.
Wells was a former director of SHP Capital Holdings Ltd, the holding company that owned Safe Hands Plans Limited. Debenham was also a senior executive within the business. Both companies are now in administration and shared the same registered address in East London.
Safe Hands Plans Limited sold prepaid funeral plans to customers across the UK. Before the company collapsed, approximately 46,000 people had purchased plans, many of whom were left uncertain about the status of their arrangements once the business stopped operating.
The SFO announced the launch of its investigation into Safe Hands Plans and SHP Capital Holdings in October 2023. Today’s charges represent the first criminal proceedings to emerge from that inquiry.
Emma Luxton, Director of Operations at the Serious Fraud Office, said the case highlighted the human impact of the company’s failure.
“This scheme marketed peace of mind to tens of thousands of people, many of them vulnerable,” she said. “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 SFO is responsible for investigating and prosecuting serious or complex fraud, bribery and corruption in England and Wales. Its work often focuses on cases involving large numbers of victims or significant public interest.
Safe Hands Plans Limited stopped trading in 2022 after failing to secure the necessary regulatory approval to continue operating in the prepaid funeral plan market. The company’s collapse drew national attention due to the scale of the customer base affected and the sensitive nature of the services involved.
Prepaid funeral plans are designed to allow customers to pay in advance for funeral services, typically to provide certainty over costs and arrangements. When Safe Hands Plans entered administration, thousands of customers were left facing uncertainty over whether their plans would be honoured.
Wells and Debenham are scheduled to appear at Westminster Magistrates’ Court on 5 February 2026. The charges are allegations and both men are entitled to a fair trial.
The SFO has not commented further on the scope of its investigation or whether additional charges may follow. Proceedings will continue through the courts in due course.