Serious Fraud Office v. Safe Hands Plans Limited - Fraud Investigation

SFO Cases

Filed November 29th, 2024

Detected March 6th, 2026

Summary

The Serious Fraud Office (SFO) has charged two former executives of Safe Hands Plans Limited and its parent company, SHP Capital Holdings Limited, with conspiracy to defraud. The investigation into suspected fraud began in 2022 following the collapse of the pre-paid funeral plan scheme, impacting approximately 46,000 plan holders.

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What changed

The Serious Fraud Office (SFO) has formally charged former SHP Capital director Richard Wells and senior executive Neil Debenham with conspiracy to defraud. This action stems from an investigation launched in 2022 into suspected fraud at Safe Hands Plans Limited and its parent company, SHP Capital Holdings Limited, which operated a pre-paid funeral plan scheme that collapsed in 2022, affecting around 46,000 plan holders. The case has seen multiple court appearances, with a trial now scheduled for October 2028.

Regulated entities, particularly those in the financial services and funeral plan sectors, should be aware of the SFO's rigorous approach to complex fraud investigations. While this specific case involves criminal charges, the SFO's involvement and the collapse of the funeral plan scheme highlight the importance of regulatory compliance and financial stability. Plan holders are advised to contact the appointed administrators, FRP Advisory Trading Ltd, for specific queries, as the SFO will contact them directly if necessary. Non-compliance with SFO information requests is a criminal offense.

What to do next

Review internal controls related to financial schemes and consumer protection.
Stay informed about developments in the Safe Hands Plans Limited case and SFO enforcement trends.
Ensure compliance with any information requests from regulatory bodies like the SFO.

Penalties

Non-compliance with information requests is a criminal offence.

Source document (simplified)

Safe Hands Plans Limited

The SFO launched an investigation into suspected fraud at Safe Hands Plans Limited and its parent company SHP Capital Holdings Limited in 2022.

From: Serious Fraud Office Published 29 November 2024 Last updated 5 March 2026
— See all updates Case state: Open Date announced: 11 October 2023 The companies operated a pre-paid funeral plan scheme that collapsed in 2022 after failing to secure authorisation from the Financial Conduct Authority. Approximately 46,000 plan holders had paid toward funeral plans before the company collapsed.

Case timeline

5 March 2026 – First appearance at Southwark Crown Court. The trial has been set for October 2028.

5 February 2026 – A first appearance hearing at Westminster Magistrates’ Court took place today. The case has been transferred to Southwark Crown Court, where a hearing has been scheduled for 5 March 2026.

22 January 2026 – SFO charged former SHP Capital director Richard Wells and Neil Debenham, a fellow senior executive, with conspiracy to defraud, contrary to common law. A hearing at Westminster Magistrates’ Court is expected on 5 February 2026.

11 Oct 2023 – SFO investigation announced. Notices were issued compelling stockbrokers and financial institutions to produce information. This followed similar notices to UK banks and other potential witnesses issued at the end of September. Non-compliance with these requests is a criminal offence. See more information here.

Information for policy holders

The SFO is in the early stages of the investigation and is liaising with the appointed administrators FRP Advisory Trading Ltd. At this time, we ask that plan holders do not contact the SFO directly; we will contact you directly if necessary.

The SFO takes on only the most complex fraud cases. Our investigations involve reviewing large volumes of material and working across overseas jurisdictions; because of this, our cases can take years to complete.
When we have information we can share with you, we will. We ask you are patient with us and revisit this case page for updates on our investigation.

If you have invested in a funeral plan with Safe Hands Plans Ltd and have any questions the administrators can be contacted via –

Website: www.safehandsplans.co.uk

Email: safehands@frpadvisory.com

Telephone: 0844 257 5562

Support for victims and witnesses

If you have been impacted by this case and need support, please see this page for information on support services available to you.

Updates to this page

Published 29 November 2024 Last updated 5 March 2026 show all updates
1.
5 March 2026

Added date for trial.
2.
5 February 2026

A first appearance hearing at Westminster Magistrates’ Court took place on 5 February 2026. The case has been referred to Southwark Crown Court, where a hearing has been scheduled for 5 March 2026.
3.
22 January 2026

SFO charged former SHP Capital director Richard Wells and Neil Debenham, a fellow senior executive, with conspiracy to defraud, contrary to common law. A hearing at Westminster Magistrates’ Court is expected on 5 February 2026.
4.
29 November 2024

First published.
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