Per TMZ, Michael Lohan scammed a 20-year-old guy out of $50,000 by using Lindsay Lohan to lure him into dumping money into two phony businesses … so says the guy, who’s now suing Michael.
According to court docs obtained by TMZ … Jason Squatriglia claims Lohan convinced him to sink the $50K into a new cleaning product and a reality TV show called “Racing With the Stars.”
Shocker … neither project ever took off, according to the suit.
Squatriglia told the NYPost … Michael loved to talk about Lindsay’s career as a “big movie star” — and dangled it to convince Jason it was safe to invest even more dough.
In the suit, Squatriglia claims MiLo took his cash and ran — he’s gotten ZERO back on the investment. He’s suing to get back the 50 grand, plus $500K in damages.
Michael tells TMZ he never introduced Lindsay to Jason or insinuated she would be involved in their dealings — and he’s adamant … he doesn’t owe squat to Mr. Squat.