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'70s Show' Star -- I Got Nailed in Real Estate Scam!

7/15/2010 7:07 AM PDT BY TMZ STAFF

Danny Masterson -- who played Hyde on "That '70s Show" -- tried to dabble in a little real estate back in 2007 ... but claims he was duped into holding the bag on a $3.2 million condo that was never even finished.

0714_Danny_Masterson_EX
Masterson -- whose rep says this is "one of 30 developments Danny has been involved in over the last 10 years" -- 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.

34 COMMENTS

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16.

bob dobolina    

This guy has a lot of property and has it under his mommy as manager, they get run down and never repaired needing repairs roof,paint,plumbing,electrical,retro fitting extc....he has one in echo park with a prostitute working out of it on kellam avenue...SLUM

1497 days ago
17.

Fan    

These comments are hilarious! Funnier than a comedy club. I think the webmaster fixed more than the scrolling issue. Thanks!

1497 days ago
18.

Better run and Hyde    

If he's so unsophisticated, why did he agree to co-sign for a loan of so much money? If it was $10,000 that's one thing, but $3.2 million?! Even a dumb kid would know better that once you attach your name to a loan, you're on the hook for paying it back for better or worse.

1497 days ago
19.

Chris    

Wasn't this clown on Entourage telling 'Vince' what a great investment real estate was? LOL. You got conned boy!

1497 days ago
20.

Zombie    

OMG ITS STEVEN HYDE!!!!!!!jkjkjk that sucks for him

1497 days ago
21.

Mr. Bate    

Fool!

1497 days ago
22.

beef    

DM...DM...DM...
Silly Scilon. Go see the Scientologists Real Estate people. They have very creative ways of reinvesting your income, inheritance and mortgages in to these neat brainwashing books and things. You'll get your dough back in no time once you pass OT3 and achieve those swell OT powers. Poof!

1497 days ago
23.

Shanny    

Wasnt this guy on an episode of Entourage a few years back advising Vince to buy real estate ?? That he had made a fortune?? Am I confused??

1497 days ago
24.

megan    

he should invest in a tiny classified ads business. it's complex.

1497 days ago
25.

deb    

Is suppose his ego got in the way??

1497 days ago
26.

TCMang    

Sure is a lot of Scientology hate here.

I like it. Keep up the good work.

1497 days ago
27.

ó|ó    

look at this dude, he looks like jamie oliver!

1497 days ago
28.

jason420    

tiny classified ad's are dead...all the real money is in nicaragua

1497 days ago
29.

bob dobolina    

this dude is a douche bag ...his "mommy" manages his so called property slumlord style....PLAIN AND SIMPLE SLUMLORD!...i see him in the near future asking you if you would like to supersize or if you would like cheese with that!

1497 days ago
30.

Jean    

I'm sorry. If you go into business with a company named 'TomatoBank,' you get what you asked for.

1496 days ago
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