Business Services Industry
Former CEO of Optical Cable Ordered to Pay Millions to Former Stock Broker.
Knight Ridder/Tribune Business News, August, 2003
By Jeff Sturgeon, The Roanoke Times, Va. Knight Ridder/Tribune Business News
Aug. 12--The former chief executive of Optical Cable Corp. in Roanoke County has been told to pay his former stock broker $35.1 million.
The amount represents less than half of what Bob Kopstein allegedly owed to brokerages in 2001. Kopstein's strategy to leverage company shares to invest in the stock market backfired.
His investing activities left him in hot water with his investment advisers and his bosses. Six stock brokerages that lent Kopstein money claimed that he owed them a combined $88.2 million.
A short time later, Optical Cable's board of directors fired Kopstein, saying the company co-founder had become too distracted by financial problems...
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