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.
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