“I think people will be not happy to hear me whining about money.”
Kevin Bacon is detailing his experience losing “most” of his fortune after falling victim to Bernie Madoff’s Ponzi Scheme.
During an appearance on the “SmartLess” podcast hosted by Will Arnett, Jason Bateman, and Sean Hayes, the 64-year-old actor opened up about his failed investments with Madoff and how he and his wife Kyra Sedgwick nearly lost everything after it collapsed in the aftermath of the 2008 financial crisis.
“We had most of our money in Madoff,” Bacon confessed. “There’s obvious life lessons there — if something is too good to be true, it’s too good to be true.”
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Madoff’s scam is considered the biggest Ponzi scheme in recorded history with an estimated $65 billion.
Though neither Bacon nor Sedgwick have ever gone public with how much money they lost, the “Footloose” star revealed that the couple has managed to recover “a portion” of their losses.
Kevin also touched on the Madoff Victim Fund, a lawsuit that has helped victims recoup their finances. The fund has so far returned more than $4 billion to 40,000 victims according to its website.
“Certainly, you get angry and stuff,…
