Wednesday, March 12, 2014

Business Man Claims Michael Lohan of Ripped Him Off

A 20-year-old businessman from Long Island claims Lindsay Lohan's father Michael Lohan of beat him for $50k. 
A naive young entrepreneur from Long Island says Lindsay Lohan’s father swindled him out of $50,000, promising to invest his dough in a cleaning product and celebrity reality show — but instead leaving him high and dry.
Jason Squatriglia, 20 — who says he made more than $200,000 as a teen selling rare coins on eBay — told The Post that Lohan’s troubled dad, Michael, wooed him by letting him drive his Maserati and try on his Rolex watch, and getting him an invitation to a party at David Hasselhoff’s house.
“I got pictures with David Hasselhoff. I was so excited. I said, ‘Thank you so much!’ ” Squatriglia said. But the young man said things eventually turned sour between the pair after he repeatedly asked Lohan for some return on his investment and the 53-year-old “Celebrity Rehab’’ star kept blowing him off.
Squatriglia claimed Lohan asked him to fly to Boca Raton, Fla., where he lavished him with expensive steak dinners and allowed him to drive his fancy car and try on his Rolex.
“He promised me the world. He took me under his wing. At that point, I knew I was going to invest money with him, and I felt comfortable with him,” Squatriglia said.
The pair formed a company, JaLo Ventures LLC, to try to produce a reality show called “Racing with the Stars,” in which celebrities would drive around South Florida in sports cars.
Lohan also said he would put some of Squatriglia’s dough into Vital Oxide, a new disinfectant in which Lohan claimed to have heavily invested.
Despite a plea by the young man’s parents not to get involved with Lohan, an ex-con who spent three years in the clink for insider trading, Squatriglia wired his new mentor $50,000 on Oct. 22, 2012.
Soon thereafter, Lohan invited Squatriglia to Los Angeles, with the then-teen footing the bill.
“While in LA, he kind of used Lindsay as bait. It captivated my attention. He tried to get me to invest more, as if to say, ‘Look at my daughter. She’s a big movie star,’ ” Squatriglia claimed.
But Squatriglia began having investor’s remorse after Michael Lohan — who peppered him with daily texts affectionately calling him “Junior” — asked for more money.
Lohan told The Post that the pair have a business relationship but said, “This kid is twisting everything.”
Lohan said his reality show never got off the ground because he couldn’t secure enough sponsors. He added that he has put Squatriglia’s money into the cleaning product and blamed the lag in returns on a delay in producing an infomercial.
Jacked from Page Six

No comments:

Post a Comment