On Monday’s SmartLess podcast, hosted by actors Will Arnett, Jason Bateman, and Sean Hayes, American actor and musician Kevin Bacon discussed his experience as an investor in the plan. Bernie Madoff’s infamous Ponzi scheme. Although he could not provide many details, Bacon said his family was able to get “a small portion of the money” back. Kevin Bacon and his wife Kyra Sedgwick have a combined net worth of $45 million as of April 2023.
Several news outlets reported that Kevin Bacon and Kyra Sedgwick had lost millions of dollars to fraud, but the exact amount was not disclosed. Bernie Madoff scammed hundreds of investors, including performer Footloose and his wife. Other notable deaths include director Steven Spielberg, former Mets owner Fred Wilpon and baseball icon Sandy Koufax.
Kevin Bacon and his family have returned “some” of their possessions.
Bacon and Sedgwick paid $2.5 million for property in Los Feliz, a suburb of Los Angeles, in December 2011. According to public records, the couple also owns a 40-acre country estate acres in Sharon, Connecticut, which they purchased in the 1990s, and a spacious New York apartment with views of Central Park.
Kevin Bacon made a lighthearted comment on the podcast:
“I believe people will be annoyed to hear me complain about money.”
He thanked his family for their health and admitted he was one of the luckiest victims.
He continued:
“We’ve come this far, our kids are healthy and we’re healthy too, you know? Let’s see what we excel at. […] There are many others who have suffered much worse than we have.”
Kevin Norwood Bacon (64 years old), an American actor, is known as one of the best actors in Hollywood. A Few Good Men (1992), Apollo 13 (1995), JFK (1991), Footloose (1984) and Mystic River (1984) are among his famous works (2003). He has received critical acclaim for playing anti-hero or darker roles in films such as The Sleepers (1996) and The Woodman (1998). (2004). He is especially known for his role in the living room game “Six Degrees of Kevin Bacon”.
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Bernie Madoff’s Ponzi scheme: The Biggest In American History
Bernard Lawrence “Bernie” Madoff ran the largest Ponzi scheme in history, defrauding thousands of thousands of investors over 17 years. The Ponzi scheme attracts participants with the promise of a steady income using an investment method known as split conversion. Madoff, on the other hand, puts the investment in a bank account and uses it to repay existing customers.
The story became public in 2008 when Bernie Madoff confessed to defrauding his son and was arrested. In 2009, Madoff was sentenced to 150 years in prison for defrauding investors of more than $65 billion. He died in 2021, aged 82, at a private state medical facility in Butner, North Carolina. Bernie Madoff is estimated to have received $20 billion from the fund, which has more than $50 billion in assets. The Madoff Victims Fund, according to its website, has paid out more than $4 billion to more than 40,000 victims of the scam.
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