Overview
- Richard Wells, 39, of Spain, and Neil Debenham, 43, of Norwich, are charged with conspiracy to defraud and are due at Westminster Magistrates’ Court on 5 February 2026.
- The case stems from the 2022 failure of Safe Hands Plans after it was unable to obtain Financial Conduct Authority authorisation to continue selling funeral plans.
- Administrators at FRP report that trust funds were routed through a Cayman Islands entity that lent about £28.7 million to parent SHP Capital and were invested in connected and high‑risk illiquid assets.
- Around 46,000 customers were left out of pocket, with estimated recoveries of roughly £5.7 million to £7.4 million against claims near £83 million, equating to about 6p to 9p in the pound.
- The SFO opened its probe in October 2023, and administrators say asset‑recovery work, including action in the Cayman Islands, remains ongoing.