Kevin Bacon and Kyra Sedgwick snared in Bernie Madoff’s Ponzi scheme
Posted on December 30th, 2008 by Hot Momma
The list of investors who say they were duped in one of Wall Street’s biggest Ponzi schemes is growing, not only snaring some of the world’s biggest banking institutions and hedge funds, but the super rich and the famous too.
Kevin Bacon and wife Kyra Sedgwick are the latest Hollywood heavyweights to announce they fell victim to former Wall Street financier Bernie Madoff’s $50 billion Ponzi scheme.
Bacon’s rep confirmed to New York Magazine that the actor and his wife lost money in Madoff’s scam, but as you would expect are not about to anounce how much. There are plenty of other big name celebrities that were also duped but many choose to stay quiet. We do know Steven Speilberg’s Wunderkinder Foundation was also hit, and DreamWork’s Jeffrey Katzenberg has lost “millions”, according to the Wall Street Journal.
No comments yet.