Management team of Lindsay Lohan: “She’s headed for financial ruin”
The management team of troubled actress Lindsay Lohan is growing concerned about how she is handling her money — claiming that LiLo is careening towards financial ruin by making bad business decisions, questionable savings practices and recklessly putting her money in unsafe places.
According to reports, in a series of text messages, Michael Lohan — the estranged father of “Herbie: Fully Loaded” star Lindsay Lohan — voiced out his concern to Lindsay’s lawyer, Dave Feldman, discussing the way his daughter handled appearance fees she received after attending a launch for energy drink named Mr. Pink.
As it was previously reported, Lindsay Lohan flew out to Los Angeles earlier this month in order to attend a launch event for the beverage — just hours after the heated altercation with her mother, Dina, in New York City.
The “Liz & Dick” star was reportedly paid $150,000 in cold cash for helping out to promote the energy drink, which she promptly gave to her brother, Michael Jr., to keep in his bank account for safekeeping.
Michael Lohan told Lindsay’s lawyer Dave Feldman that he is concerned his former wife Dina Lohan would somehow take advantage of the situation and take the money for herself.
Feldman then responded that he was also frustrated with the business decision of the actress, saying that Lindsay Lohan should have looped him in and her business manager into the transaction, especially since they could have gotten her more money for the brand promotion as her management team.
Earlier this month, Lindsay Lohan and mom Dina had a huge fight that escalated into a full-on screaming feud, allegedly over an unpaid loan worth $40,000 that the actress had lent her mom.
The mother-daughter duo reconciled a while later, joining forces against Michael Lohan.
Michael, meanwhile, has been verbal about his hope to get a conservatorship for Lindsay Lohan, although not necessarily under him, because he doesn’t want people to think he’s taking advantage of her finances.
Just last week, Michael attempted to stage an intervention at Lohan’s Beverly Hills home, but the supposed plan failed when the actress called the police on her father.