Danny Masterson (That ’70s Show, Scientology) has been the victim of real estate investment fraud! This story is very boring but there is a reason I am posting it so please bear with me! From TMZ:

[Danny] Masterson — who considers himself “unsophisticated” in real estate — claims he went into business with a company called TomatoBank … and agreed to co-sign a $3.2 million loan for a fancy 4-story condo in Toluca Lake, CA in 2007.

But according to docs filed in L.A. County Superior Court, Masterson claims the builders ran into some permit issues — so TomatoBank secretly approved a 3-story structure instead … all without telling Danny.

Of course, Masterson eventually found out — and now claims he’s screwed because he’s on the hook for a $3.2 million loan … but only has an unfinished 3-story building to show for it … which obviously doesn’t cover his debt.

So, Danny is asking the court to force TomoatoBank to cover his losses — and wants his loan agreement tossed in the garbage.

Celebrities are just like us! You know how we are, constantly sinking millions of dollars into condominium projects only to find that the terms of the project have been changed without our knowledge. I HATE when the four-story condo I am investing in turns out to be a THREE-story condo. Classic thing to happen to almost everyone. Of course, our thoughts and prayers are with Danny Masterson and his family during this difficult time. But also: TomatoBank? LOLOLOLOL. “Who do I make this check for 3.5 MILLION DOLLARS out to? TomatoBank? That sounds totally legitimate and like a good name for a company. Are you sure you don’t want a BIGGER check, Mr. Tomato?” I’m sorry we had to go through all this, because I know we are not in Real Estate Scam Law School (real thing, probably, look it up), but when I start making TONS of TomatoBank references, I want everyone to know what I am talking about. Sometimes you just have to file stuff in the archives. It’s called journalism.

Comments (58)
  1. And, of course, That ’70s Show remains popular in syndication.

  2. TomatoBank sounds Japanese.

  3. In England, they call it TomadoBank.

    “Hey, good one!” -everyone

  4. That’s why I invested all my money in the Topsy-Turvy

  5. “I’ve got 3.2 million dollars.”
    - Danny Masterson

  6. That picture makes him seem like the worst flasher ever.

  7. I’m running off to park on tomoatobank.biz right now!

  8. from wiki:

    Tomato Bank (宏基銀行), more commonly known as TomatoBank, is an overseas Chinese bank in the United States.

    The bank was established to serve the local Chinese community, but unlike those traditional overseas Chinese banks in the United States established earlier, a significant portion of the Tomato Bank clientele are wealthy Chinese immigrants either engaged in international trade and real estate business, or professionals.

    Another unique feature of the bank is that unlike other banks, the founder, and former chairman, and CEO of this bank is a physician instead of a businessperson. However, Dr. Stephen Liu does have managerial training in that he has earned a master’s degree in healthcare management from University of California, Los Angeles after gaining his doctor of medicine (M.D.) degree from the medical school of University of Southern California.

    ALSO:

    “It is an attractive brand name that brings to mind images of growth, multi-culture and health, all characteristics that represent who we are and what we strive to achieve. But most importantly, it is a brand that is recognizable and hard to forget. If there can be an Apple Computer – why not a Tomatobank? Try to forget it. You can’t!”

    I CAN’T! AHHHH. HOW DO YOU TRY TO FORGET SOMETHING? IT IS LITERALLY IMPOSSIBLE.

  9. I wonder if he was going to call it the “Hydeaway”. Maybe “Topher Graceland”? Either way, TomatoBank put him in tons of debt and he needs to ketchup.

  10. I know the economy is still down, but the return on my LOLk has been outperforming the market this year! Investments!

  11. This is why I’ve invested all my money in BananaStand

    • Unfortunately, my LOLk is stored right in the TomatoBank which is THE WORST at turning a profit and my sentence doesn’t make any sense because stupidity.

  12. He and Jeremy London should get together, smoke some crack, and make bad business deals.

  13. “chinese banks are here. hide your $3.2 million”

    - danny masterson’s new shirt

  14. At least he had the sense to invest a ridiculous amount of money in real estate…in 2007.

  15. I wipe my ass with $3.2 million – Jerry Seinfeld

  16. I wonder who designed the website for TomatoBank. Something like Punkt Bionics…

  17. I totally support the name TomatoBank.

    In somewhat related news, Topher Grace is apparently a “terrible kisser”.
    http://greginhollywood.com/joseph-gordon-levitt-the-advocate-interview-33059

    • BREAKING: Joseph Gordon Levitt is a liar.

    • More importantly, was Topher a good kisser?
      [Laughs] Probably one the worst kissers I’ve ever kissed. You know, he’s a dude, and girls are awesome to kiss, I gotta say.

      Man, kissing girls does sound awesome. I mean, sometimes I go rollerblading without my kneepads and I think “Yeah, this is awesome”, but Joseph Gordon-Levitt telling me that kissing girls is awesome makes me think that it may be awesome-r.

    • “kissing girls is awesome.” Did JGL think he was being interviewed for Tiger Beat?

  18. As soon as I read the word TomatoBank, I thought the story was going to Danny Masterson was scammed into giving $3.2 million to a fake company. You know, because TOMATOBANK.

  19. It’s not just an ugly stereotype, everyone knows the Tomato’s run our banking system.

  20. Meanwhile, Topher Grace…

  21. Mr. Masterson – “You say TomatoBank, I say HorribleRipOffBadNameBank. Let’s call the whole thing off.”

  22. He’s going to have to bathe in a lot of tomatobank to get the stench off.

  23. This isn’t the first time this has happened….

  24. “We’re gonna need a bigger TomatoBank.”
    -Li-Chen Herman, TomatoBank president

  25. I’m glad to see that the Chinese don’t just give their laundromats ridiculous names.

  26. Danny better control his rage about this. We don’t need him caught with ketchup all over his hands.

  27. I may have to change my name again, just to stay constant. Think theres a Tomatobank yet?

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