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.
Insurers Are ‘Actively Evaluating’ New Catastrophe Risks as Europe Burns 
Troubled Alabama City Loses its Liability Insurance Coverage 
Former Insurance Agent Sentenced to Jail for Fraud, Again 
Law Restricts Her From Reducing ‘Excessive’ $91M Injured Worker Award, Judge Finds From This Issue
