5-2-14
Details from the Detroit News about a couple that claims they were bilked out of nearly $1 million for what they believed was a 25 percent stake in sports station WCAR-FM in Detroit. Drago and Jadranka Mihajlovski and their son Zive say they made an investment of $500,000 for what was pitched to them as a 10 percent stake. They later invested another $450,000 for another 15 percent interest, dealing with Sima Birach Jr., on behalf of Birach Holdings. The paper says Birach?s father said his son only leases WCAR from him and has no authority to sell of any of it. ?I lease it to him for $1 a year and all he can sell is the commercial time."
