Kevin Bacon Might be Broke

Bernie Madoff, who is a big Wall Street guru, was charged just recently on December 11 for fraud and it seems that among others such as Steven Spielberg, Kevin Bacon and his wife, Kyra Sedgwick may be the most recent victims of his crimes. Madoff was involved in a Ponzi scheme, which is collecting money from investors and paying off the old investors with money from the new. While the total estimated amount of fraud that Madoff is being charged with equals about 50 billion, Bacon may have contributed to a lot of that as it’s rumored that he has lost just about everything he and his wife have. From The Evil Beet,

“Kevin Bacon’s rep, Allen Eichorn, confirms that his client and wife Kyra Sedgwick are victims of Bernie Madoff’s Ponzi scheme. There have been rumors that they lost everything except their checking account.
Eichorn responded to the rumors by saying “Please, let’s not speculate or rely on hearsay.”

Hopefully we’re dealing with two people here who are smart enough not to sign away their life’s savings and from his rep’s statement, it sounds as though it may not be as bad as it’s rumored to be. I wonder how much celebs keep in their checking account anyway. I would think that it would be enough to keep you going for a little while. But it really is too bad if it is true. Kevin and Kyra are known as two of the nicest people in Hollywood.

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3 comments ↓

#1 Sonya on 01.03.09 at 6:39 pm

very bad news for kevin bacon fans. hes such a brilliant actor.

#2 Shana on 01.05.09 at 12:27 pm

Ummmmm….Sonya, why is this bad news for Kevin Bacon fans? It’s bad news for Kevin Bacon and Kira Sedgwick but it doesn’t actually have anything to do with his fans or his acting. I’m sure he’s still a brilliant actor and in fact if he is broke we may be seeing more of him as he’s gonna have to do some brilliant acting to make some more money.

#3 Anthony Cashmere on 01.27.11 at 1:07 pm

I was informed that the amount of money the Bacons lost to the crooked Bernie Madoff was in the amount of fifty million dollars. A very reliable source by the way devulged that tidbit too me.

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