Shahin Sean Pelaseyed, a North Hollywood insurance broker, was arrested at his apartment by the North Hollywood Police Department and charged with five felony counts of grand theft of insurance premium.
The 46-year-old man operated Sean Pelaseyed Insurance Services, and according to investigators, he collected at least $28,000 in premiums from commercial trucking companies in California. Of those premium dollars, Pelaseyed sent only partial payments to insurance companies, and in some cases, no payments were sent.
A CDI investigation revealed that he pled no contest in 1997 to one misdemeanor count of diversion of funds. An administrative action against Pelaseyed’s insurance license is pending.
Was this article valuable?
Here are more articles you may enjoy.
Ford to Recall About 223,500 Vehicles Over Fuel Tank Issues 
Baldwin Group to Go Private After $7.7B Investment Deal 
Viewpoint: How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage 
25 Years Later: IJ’s Past and Continued Coverage of the Insurance Impact of 9/11 From This Issue
