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.