State charges stockbroker with fraud
AKRON (AP) -- A stockbroker and his wife have been accused by state securities officials of bilking investors of more than $1 million and sending them false statements.
The Summit County Common Pleas Court on Friday issued a temporary order against Harold and Linda Hopkins of Aurora, freezing the assets of four companies associated with them and barring them from disposing of any assets or destroying files.
Harold Hopkins and his companies were administrators for the retirement funds of up to 40 school districts and businesses.
The money, deducted from payroll contributions, was supposed to be deposited every pay period, but Harold Hopkins used more than $300,000 for business expenses, the state said.
The state also accused Harold Hopkins of illegally selling more than $700,000 in stock in one company.
A message was left at a number listed Harold Hopkins on Saturday. Douglas Whipple, a lawyer representing Harold Hopkins, said his client did nothing wrong.
"The companies took fees which they legitimately believe they're entitled to," Whipple said.