Michael Lohan Jr. Sued for Alleged Illegal Rent Overcharging in NYC
Michael Lohan Jr., the brother of actress Lindsay Lohan, is facing a lawsuit for allegedly participating in a scheme to illegally deregulate over 150 rent-stabilized apartments in New York City. The lawsuit, filed by New York State Attorney General Letitia James, accuses Lohan and other executives from Peak Capital Advisors of exploiting a legal exemption meant for rehabilitating deteriorated buildings. The scheme allegedly involved purchasing 31 buildings in Brooklyn and Queens, converting rent-stabilized apartments to market-rate, and charging rents as high as $6,500 per month. The lawsuit claims that the buildings did not require extensive renovations, thus failing to meet the legal criteria for deregulation. The suit seeks repayment of overcharged rents and damages for affected tenants.