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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

No Avatar
61.

Fuck Celebrities    

What company pays $150k in cash?

729 days ago
62.

LLsez    

More Twitter love for the Tinker Clan:


@AdmiralAkbrown: Remember back when Lindsay Lohan had cute freckles that couldn't be confused for a venereal disease?

729 days ago
63.

CJ    

Paid $150,000 in cash??? Hmmmm bet the IRS is going to interested in that transaction. How long until she gets audited, gets nailed for tax evasion and ends up back in the slammer?

729 days ago
64.

texaschickeee    

I have no idea why TMZ even reports om LiLo anymore. She is not a "star" or even a celebrity. She is a used up old has been, that is hell bent on overdosing after she waste all her money and fights all her family members. Honestly it has to be slow, its a rush to get Kim's trash with her black trash BF or Lohan's new money or drug/ legal problem out. Both are not even liked or wanted......

729 days ago
65.

Delmar    

Once again, TMZ presents Michael and his tall stories. On twitter he's now badmouthing an addiction specialist who challenged and debated him last night on Jane Velez Mitchell. Pay him no mind, he has no credibility and his story is probably relayed with a lot of his "facts", not real ones. And is he now going after his son Michael Jr.? He's a pathetic little man.

729 days ago
66.

truthiness    

Dear Lindsay, Michael, Dina, et al: Please, for the good of mankind, die, and soon, while you're at it.
If you look up "stain" in the dictionary, there will be a picture of the despicable, low life Lohan family.
Perhaps the Lohans and the Palin clan can take a nice long plane ride and run out of fuel in the middle of the ocean.
The world would be a better place...

729 days ago
67.

Mizzle Stizzle    

Dave Feldman is the lowest denominator of s***bag lawyers there is, so it's no wonder she kept him out of the loop with her money. Good for you Linz!

729 days ago
68.

jules    

This is a shame no matter how one slices it. While there are so many people like myself struggling today just to pay thier bills; this young women seems to be wasting her hard earned money on wasteless self destructive things.

729 days ago
69.

stephan    

Lindsay is just going through an extended phase of hell right now, but sooner or later she'll emerge victorious and brighter than ever i think, she just needs to hold out through this storm

729 days ago
70.

Sarah    

Who the hell would want this nasty, old looking, hag to be the face of their brand??? Anything her mug would be on would make most people not buy the product and paying that much money??? This useless person is not worth a $50 let alone $150,000. She desereves everything she gets shes a horrible person who only cares about herself. Am sure she will whore herself out to some rich man in exchange for money like she has been doing for the past few years. She has no money or anything to her name the only reason she lives the lifestyle she does is because people give her money and let her borrow their cars and houses these rich men aka clients of hers.

729 days ago
71.

Lee    

Wonder if she told the IRS about that cash earnings?

729 days ago
72.

Phreaky    

Remember, one year ago she told a judge she couldn't afford court-ordered therapy, which is what, 65, ok we're talking Hollywood so 200 a session? But she goes and blows 30k on "surfing equipment" for her youngest brother? We didn't need this to point out that she is reckless with money.
She's trash.

729 days ago
73.

Its Nikki Bitches    

Judge Alex is on Good Day New York and Milo will be getting sued on his show next week. Its bad boys week. He called Milo a clown.LOL
Than they talked bout Lindsay. Judge Alex said Lindsay is on a bad track that she will never get off of(cause she would of got off it by now) and that he sees her ending in a bad tragic way.

729 days ago
74.

Andyconda    

Mouth breather lohan always has that "DUH" expression...
the same one that people have after eating Paste...
once again there is alot of truth to this story..and I expect a boomerang effect to it.

729 days ago
75.

Ron     

What a s***bag father, selling out his daughter for a buck. Is family not sacred? Not to these bottom feeders and the I wanna be famous firm.

729 days ago
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