Michael Lohan -- My Daughter Lindsay is Not a Hooker!!!

Lindsay Lohan is NOT banging rich dudes for money ... despite reports she's a highly paid escort -- so says her father.

Michael Lohan is quoted in the reports in question, saying Lindsay is "getting paid to date rich men." According to the reports, these dates last for several days and the men shower her with lavish gifts like jewelry.

One alleged client is the third in line for the throne of Brunei, who allegedly paid Lindsay $100,000 to celebrate New Year's with him in London.

But Michael insists he was misquoted -- telling TMZ, "By absolutely NO MEANS did I ever make such a statement ... EVER!"

He adds, "Sure, Lindsay and [other celebs] make personal appearances and get paid for it! Sure, she and they get paid to go to birthday parties and other occasions! But for sex? Are you kidding me? I would never say that because she would NEVER do that and it NEVER happened!"