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Lindsay Lohan's Mgmt Team

She's Hell-Bent On

Financial RUIN

10/25/2012 3:30 AM PDT BY TMZ STAFF
EXCLUSIVE

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Lindsay Lohan
is careening toward financial ruin ... by making stupid business decisions and recklessly stashing her money in unsafe places -- this according to her management team.

TMZ has seen text messages between Michael Lohan and Lindsay's lawyer Dave Feldman, discussing Lindsay's recent promotion deal with an energy drink named Mr. Pink.

As we reported, Lindsay flew out to L.A. earlier this month in order to attend a launch event for the beverage -- just hours after her blowout fight with her mother Dina in NYC.

In the text messages, Michael claims Lindsay was paid $150,000 for the event IN CASH ... which Lindsay then gave to her brother Michael Jr. to hold in his bank account for safe keeping.  Michael expressed fear that Dina had access to Michael Jr.'s account and would raid it for herself.

Dave expresses outrage in response, claiming Lindsay should have looped him and her business manager in to the Mr. Pink transaction in order to provide her more financial protection ... but she never did.

In the messages, Dave says Lindsay was even more stupid for not including her management team on the Mr. Pink deal because -- as Dave says -- they could have gotten her even more money for the job ... but again, she didn't.

As we reported, Lindsay's dad is terrified she has fallen back off the wagon and needs a conservatorship because she can't handle her affairs -- and based on these texts, he might have a point.

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358 COMMENTS

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Previous 15 Comments | 8 | 9 | 10 | 11 | 12 | 13 | 14
196.

Connecticut Sam    

Lindsay did the right thing by signing the contract without her lawyer and manager. $100,000.00 is real money to her and me.

622 days ago
197.

Connecticut Sam    

It takes a very big bag to hold that much money. Her brother may had spend it out on drugs and share it with his sister.

622 days ago
198.

pegandlulu    

Harvey, Where's my vocabulary lesson lately? You haven't used any big words for me to look up (except Latin phrases).

620 days ago
199.

Jimbo    

Just wondering...how many insurance policies does Lindsay have on her life? Who are the beneficiaries?
Might be worth some "investigative journalism".

619 days ago
200.

Jimbo    

Have any of your reporters ever done research to see if there are any life insurance policies on Ms Lohan? If so, who are the beneficiaries?
...just wondering...

619 days ago
Previous 15 Comments | 8 | 9 | 10 | 11 | 12 | 13 | 14

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