Local News in Brief : Comstock Enters Plea in Investment Scheme
Roy L. Comstock, former chairman of Universal City-based Comstock Financial Services, pleaded innocent Friday in Los Angeles Municipal Court to charges that he helped bilk more than 500 investors of $5 million.
Comstock, 47, who is being held on $5 million bail, is charged with three counts of violating corporate securities laws in an investment scheme that authorities said promised investors 15% to 30% returns but diverted money to personal companies and accounts.
A preliminary hearing is scheduled Feb. 20 in Los Angeles Superior Court.
An associate of Comstock, David L. Wiksell, 47, of Van Nuys, the former vice president of investments for the now-defunct firm, is scheduled to be arraigned Monday on the same three counts.
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