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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

1023_lindsay_lohan
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
106.

sugarpop    

Why are her lawyers talking to her father, who in turn sold this story? She should fire them all asap. If she really wants to change her image she needs to shut her mother and father up with a confidentiality agreement. If I were her I'd make them both sign it or cut them out of my life forever. That would put a stop to most of the drama overnight. Unfortunately I don't think that is going to happen because I think they are all in on it together and making their living by selling stories.

539 days ago
107.

gibby    

f*** lindsay,,,let her die!!!!!!!! get on with other stories already!!!

539 days ago
108.

Lindsay Lohan Fan Forever    

@Janet
Rehab worked and Lindsay was only to be tested for controlled substances (not alcohol ) from January 3rd - February 25th 2011.

539 days ago
109.

James B    

EVERY DAY and in every way, she becomes more and more of a ridiculous little trollop.

It's a shame, she was once quite pretty. Now she looks like a crack whore with a john who's a bad plastic surgeon. Duck lips, fake tits, plastic teef, face full of fillers.
Christ and she's still only 26.
Can you imagine it at 46? ...............*shudders*..........

539 days ago
110.

DILLIGAF    

Sad. She could've done so much with her life. Her parents suck!

539 days ago
111.

DaveT    

Whatever the random accusation is this time...Innocent ;)

539 days ago
112.

Its Nikki Bitches    

JUST FOR YOU RED CLOUD

Who in the f**k thinks Lindsay Lohan is worth $150K to show up at your event? Apparently the people at new energy drink Mr. Pink think so. They also paid her in cash. When a celebrity is asking for cash, then you know they will take way less than $150K because they are pretty desperate for it. Lindsay also made the deal herself so she could cut out her manager and lawyer and everyone else who would want a piece of the money. Seriously though, if you are Mr. Pink, you want to pay the world's biggest f**k up to come to your event and have her promote your drink? All you have to do is tell her there will be a bunch of people with Chanel bags and fur coats and she will come on her own and you won't have to pay a dime. Whoever the owners of Mr. Pink are, they really need to look at the way they are spending their money. Who out there is going to buy Mr. Pink because a drug addled klepto showed up to say how great it is?

The good news is that Lindsay was barred from a club last night and told she couldn't go in and she screamed bloody murder but it did no good.

539 days ago
113.

Snowman with a Turnip Nose    

"Conservatorship" is MiLo speak for "I can syphon what's left of her money into my pockets to continue my parasitic existence".

539 days ago
114.

Andyconda    

Hey Nic-Hole since you consider alcohol not being a drug. how much do you give your Niece?

539 days ago
115.

Don Martin    

Good Ridance LL not so cool

539 days ago
116.

cpeutz    

He just wants to get his hands on that money so HE can blow it he is just feeling left out.

539 days ago
117.

Sue    

Two questions

What beverage company would use THAT train wreak with a horrible reputation

And, does the IRS know about the money ????

539 days ago
118.

CloBird    

Lindsay Lohan does need some guidance and strict rules to follow. A court-appointed conservator, chosen by the courts is a good bet. Lindsay's parents are not suitable for the job... and I don't know any one in her family who is close to them who is.

539 days ago
119.

Heidi    

This whole story sounds fishy to me......... What happened to 'attorney - client privilege' ? Someone's sources are incorrect & betcha' it's TMZ once again........

539 days ago
120.

ilovegossip    

I don't understand why everyone is talking about attorney client privilege? Did they even read the article? Micheal was informing them of this deal...the attorney and her management didn't know about it, and didn't contact Michael. There is no reason why Michael can't contact her Management and let them know what is going on behind their back. They have a right to know.

539 days ago
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