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.