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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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31.

Mary    

150K for what? She got paid in cash cuz no bank won't let her have an account, cuz she is probably overdrawn on any account she ever had. Paying for her brothers school thats why she gave it to him, and moms habits.

645 days ago
32.

Lindsay Lohan Fan Forever    

Michael should back off. Lindsay did give the ginseng drink widespread promotion.

645 days ago
33.

braincandy    

I am actually with her Dad on this one. Regardless of his attention-whoring ways, I think he is actually trying to help his daughter. And if Miss Lindsay is so anti-Michael, then why did she call him when things were chaotic with her Mother? He's obviously one of her life-lines when the going gets tough.

645 days ago
34.

bb    

Her management team clealy are not taking into account all the moneyz she's making from hooking and stealing joolry, designer clothing, movie props and other expensive items. And it's all tax free! Seeeee? Nothing to worry about, hahaha.

Out of morbid curiousity - I wonder how she managed to lift that antique rocking chair of the Giz and Hick set?

645 days ago
35.

Bear King of the Dead Thread Heads (and he means it)    

before you know it, she will be a nobody and out of our faces.

645 days ago
36.

bb    

I believe Michael does genuinely want to help but he's going about it ENTIRELY THE WRONG WAY. Forcing interventions/confrontations on a person like Lindsay will not make her see sense but only make her more defiant, hardened and arrogant. His intentions are also impure - he might genuinely want to save Lindsay, but he's also after money, attention and desire to paint himself as the hero - these big interventions with TMZ in tow are proof of that. There are also obvious massive problems with his credibility (a drug addict and a con artist trying to help a drug addict and a con artist).

645 days ago
37.

janet    

Lohan didn't get paid 150k let alone IN CASH or otherwise. Guys this is all from Lohan and no one else to back it up.


All Lohans BS no one is going to pay Lohan or anyone else in cash, off the books for a Lunch. The Mr. Pink drink, whatever it is never would have done that. Espically to Lindsay Lohan. There would have been a contract. A contract that didn't happen.

645 days ago
38.

the artist formerly known as hand turkey    

That's sweet, she's stashed a hundred grand in her brother's bank account. I'm sure he's going to be thrilled when the IRS comes a knockin.

645 days ago
39.

jayman419    

Why the **** is her father included in her confidential business dealings with the people she has hired to represent her?
What does Michael get out of speaking to them? What do they get out of revealing details about her life to him in exchange?
She needs to fire every last one of them, and press forward with the order of protection.

645 days ago
40.

Hamptonsdude    

Why would anyone hire this talentless nutjob??
She looks like she double her age.

645 days ago
41.

susan    

This story is nonsense. Take away the Michael Lohan infused drama and what do you have?

Her brother made a deal for Lindsay, her management team didn't, they were resting on their laurels and deserve to have their a$$ kicked. If Lindsay really did get $150k thats an OUTSTANDING sum. As for the morons talking about the IRS. It was a PUBLIC event, it went global so there's no evasion here.Also the records of Mr Pink will show exactly what was paid to Lindsay and all the other celebrities there that night. As for being paid in cash, thats complete BS and thats how Michael Lohan does his deals.

I don't know if her entertainment lawyer Dave Felman actually sent texts with this info to Michael Lohan, we all know texts can be corrupted, but if he did thats a gross betrayal of his clients trust. He should be fired and NEVER be allowed to work in this capacity even again.


The real issue is that Michael Lohan is a raging lunatic because all of his children want nothing to do with him and have now made that fact public. He is frothing at the mouth and hurting his entire family, he is untrustworthy and should go away and get a real job.

645 days ago
42.

who dat    

During a recent appearance, Lindsay stole 15,000 in clothes. She turned a pretty good profit on that deal, for a few hours work.

645 days ago
43.

messenger.    

what a croc of crap. This is all Milo's rantings.
How would Milo and entertainment lawyer know what Lindsay made at the Mr Pink event?
How would they know she gave the money to her brother?
How would they know if was paid in cash?


Look at the madness of those 3 questions and you are looking at the madness of Michael Lohan.

645 days ago
44.

Chase    

You mean c0caine is not a good place to "stash" your money???

645 days ago
45.

the artist formerly known as hand turkey    

The IRS doesn't know dick about your personal life, if you drop $150,000 in your bank, the IRS will be notified. They will want their cut, and I don't think they will buy your story that it doesn't belong to you.

645 days ago
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