SFO charges two following Safe Hands investigation

The Serious Fraud Office (SFO) has officially charged two former directors of funeral plan provider Safe Hands with conspiracy to defraud yesterday (22 January), following an investigation into the collapse of the company.  

Richard Wells and Neil Debenham have been accused of fraud involving Safe Hands and its parent company, SHP Capital Holdings. Wells was a director of SHP Capital, while Debenham served as a senior executive at the firm.

Safe Hands ceased trading in 2022 after failing to secure regulatory approval. The company, which shared an East London address with its holding company, is still currently in administration managed by FRP Advisory. Approximately 46,000 people purchased funeral plans before the business collapsed. 

The Serious Fraud Office began its formal investigation into the companies in October 2023.

Wells and Debenham are scheduled to appear at Westminster Magistrates’ Court on Thursday 5 February 2026.

Emma Luxton, director of operations at the Serious Fraud Office, 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.”

FRP Advisory has been approached for comment on behalf of Safe Hands.