Taking the Premiums Home

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.