Getty PhotographsTwo individuals have been charged following the collapse of a pre-paid funeral agency that left tens of 1000’s of individuals out of pocket.
About 46,000 clients misplaced 1000’s of kilos when Protected Palms Plans Ltd collapsed in 2022 and went into administration.
The Critical Fraud Workplace (SFO) has charged two males – Richard Wells and Neil Debenham – with conspiracy to defraud. It stated Wells was the previous director of SHP Capital Holdings Ltd – the guardian firm of Protected Palms – with Debenham described as a “fellow senior government”.
Wells and Debenham are attributable to seem at Westminster Magistrates’ Courtroom on 5 February.
The SFO stated the costs of Wells, 39, residing in Spain, and Debenham, 43, of Norwich, had been a “vital step” in its investigation.
Emma Luxton, director of operations, added planholders had been left “uncovered, out of pocket and unsure about their funeral preparations”.
Since July 2022, pre-paid funeral suppliers have required approval to function from the Monetary Conduct Authority.
Protected Palms was considered one of dozens of firms working within the beforehand unregulated sector, and collapsed 4 months earlier than the measures got here in.
The administrator for Protected Palms, FRP Advisory, initially stated planholders might obtain repayments of between 8.5p and 12.5p for each pound they misplaced by June 2025.
However after a six-month delay, the quantity repaid to these affected by the funeral agency collapse proved to be a lot much less – about 4p for each pound.
Planholders are owed an estimated £70.6m in complete.
Amongst them are Denise Hudson, from Derby, who paid practically £2,500 for a Protected Palms plan after seeing a TV advert in 2019, and was final yr given a cheque for lower than £100 by directors.
“That was my financial savings. I gave it in good religion. I really thought what it stated on the tin, it’s in protected fingers,” she stated.
Hudson advised the BBC she would possibly “body” the cheque for £96.50, utilizing it as a reminder to maintain preventing.
In 2017, Sandie and David Beatty, from Bingham in Nottinghamshire, paid Protected Palms £3,395 to cowl the funeral prices for the primary of them to die.
Sandie stated they felt “offended, disenchanted, sick” when the agency collapsed.
Aimee Geary, an NHS employee from Anstey in Leicestershire, paid £3,000 to Protected Palms in 2017.
Geary stated: “Different individuals thought I used to be younger [to be planning my funeral]. I am very organised, and I did not need anybody else to have a job once I’m not right here.
“It is unhappy that you simply attempt to plan one thing and it has been taken away from you.”
