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Actor-Developer in Trouble Over A Few Toluca Lake Condos

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Stars, they're just like us! Always getting into bad real estate deals with weirdly-named banks. Danny Masterson, best known for playing Hyde on That '70s Show, was sued in March for nearly $3 million by an entity called TomatoBank. They said he had failed to make payments on a $3.2 million loan he'd taken out in 2007 to finance what TMZ calls "a fancy 4-story condo in Toluca Lake." Now Masterson says he was screwed, and that "the builders ran into some permit issues -- so TomatoBank secretly approved a 3-story structure instead ... all without telling Danny." (And not even the three story version has been finished.) Masterson's company Bellalily had to file for bankruptcy in June and now he's asking that TomatoBank be compelled to cover his losses. According to the LA Department of Building and Safety's website, a permit was indeed issued for a four story, eight unit building in April 2007, but it looks like that was revised in September 2007 to cover a three story, six unit building. Masterson's rep tells TMZ the project is "one of 30 developments Danny has been involved in over the last 10 years."
· '70s Show' Star -- I Got Nailed in Real Estate Scam! [TMZ]