Insurance broker Shahin Sean Pelaseyed, 46, of North Hollywood pled no contest to one count of grand theft of insurance premiums in a Van Nuys Superior Court.
Pelaseyed was originally charged with five felony counts of grand theft of insurance premiums, which was in violation of probation placed upon him after a 1997 theft conviction. According to CDI investigators, Pelaseyed operated Sean Pelaseyed Insurance Services, providing commercial policies to trucking companies in Northern and Southern California. From January 1999 to August 1999, the broker collected at least $28,000 from five trucking companies for commercial policies, yet he sent only partial payments to some insurance companies and no payments to others.
Was this article valuable?
Here are more articles you may enjoy.
Ranking: Who Are the Insurance Industry’s AI Talent, Maturity Leaders? 
20 Years After Hurricane Katrina: Are Insurers Ready for a Different $100B Disaster? 
Robotaxi Riders Are Falling Asleep, Sparking Frantic 911 Calls 
Ryanair Passenger Partly Sucked From Jet After Window Breaks From This Issue
