Casey Aldridge MAY NOT be the father of Jamie Lynn's baby!

According to eFluxMedia, the father of Jamie Lynn Spears' baby is not boyfriend Casey Aldridge, but rather an older man.

Friends have said that Jamie Lynn was no longer even seeing Casey -- and family members told Star that they believe the real father is a much older executive at her children's TV show Zoey 101.

"Casey is being paid off to be the family's fall guy while the real father remains unidentified," Star magazine insists.

They say the real reason is that an older man could be charged with statutory rape if revealed to be the father of an under-aged girl's baby. But in Jamie Lynn's home state of Louisiana, Casey would escape charges because a 16-year-old can legally have sex with someone less than two years older than her.

"The man many suspect is the father, however, would face charges and probably prison time if he were to come forward and admit he had sex with her," Star magazine states.

The magazine quotes "two separate Spears family insiders" who believe the father is someone who works on Jamie Lynn's kids' show.

But no matter who the father is, insiders believe the pregnancy will be the death knoll for Jamie Lynn's burgeoning career.