Being that it came off of Ebay, I'm guessing that 'some settling may have occurred during shipment'.
Are you mechanically inclined?
This is a fully-auto turntable, and as such, has many mechanical parts on the underbelly of the beast which control things as you describe. Unlike todays machines that have microswitches controlling some chipset somewhere, these things have springs and armatures and flywheels and levers and such.
If you're mechanically inclined, take the bottom off of the base (plinth) after removing the headshell, rubber mat and platter, securing the tonearm, and placing the unit on it's dustcover on a nice terry cloth towel folded over.
Then inspect the innards and look for something amiss with your 'stop' button. I've not been inside a PL-530, but I'd guess that instead of an electrical switch, that the button depresses a plunger of some sort that moves a lever that starts some sort of Rube Goldberg mechanical process.