Past perfect/simple past in reported speech

Sentences:

1. We told her that we had given her the money that had been saved from her husband’s business. It was a pious fraud; she would have been distressed had she known we had collected it among ourselves.

2. We told her that we had given her the money that was saved from her husband’s business. It was a pious fraud; she would have been distressed had she known we had collected it among ourselves.

Question:

The sequence of events is as follows:

1. The money in question was saved from her husband’s business.
2. We gave her that money.
3. We told her about it.

Do the bolded tenses work in sentences #1 and #2 given the sequence of events? Thanks.