Criminal probe launched into funeral plan provider
The Serious Fraud Office (SFO) has opened a criminal investigation into a suspected fraud at Safe Hands Plans Ltd and its parent company SHP Capital Holdings Ltd after their funeral plan scheme collapsed last year.
Wakefield-based Safe Hands Plans marketed pre-paid funeral plans, where customers paid instalments for plans priced up to £4,000, so funds would be available towards the costs of funerals.
About 46,000 plan holders had paid toward funeral plans before the company collapsed.
Nick Ephgrave, director of the SFO, has sent notices to stockbrokers and financial institutions requesting information for the investigation.
This follows similar requests made to UK banks and other potential witnesses issued last month. Non-compliance with these notices is a criminal offence.
Ephgrave said: “Thousands of individuals from all over the UK have lost the peace and security they sought after being sold a product on the basis it would help reduce the burden on their loved ones upon their death.
“Today, we have taken another significant step in pursuing our criminal investigation into Safe Hands Plans.”
The SFO adds its criminal investigation is pursuing various lines of enquiry and may result in a criminal prosecution, which it would then conduct using its powers as a prosecuting authority.
Members of the public who have been affected by the collapse of Safe Hands Plans are advised to continue liaising with the Safe Hands Plans Limited administrators “FRP Advisory”,
