BUSTED...BIG TIME!

Michael Lohan is being sued by an investor over an idea to dub over old Girls Gone Wild videos in Spanish. The investor, Richard Reitano, clearly thinking with the incorrect head, loaned him $25K, then never saw any videos produced. So clearly, investor thinks scam.

Best part? MiLo was all "but I got the rights from Girls Gone Wild producer Joe Francis and it was legit! But no naked women were involved!"

Right. Because creepy lonely dudes all over America (and probably beyond) bought the GGW tapes to check out the girls' eye color and fashion sense.

#Dumbass