Bacon and his wife have not publicly disclosed the exact amount they lost in the scam.
American newspapers estimate the value of the lost property to be up to one million dollars. PDO
Actor known from Apollo 13 and Footloose movies Kevin Bacon64, says in a recent podcast interview that he lost most of his fortune as a result of a scam in 2008.
Bacon opens up about his own finances on the SmartLess podcast with his wife, actress Kyra Sedgwick, 57, and together they recalled the moment when they lost, according to estimates, millions of dollars to con artist Bernard Madoff.
Madoff once founded an investment company where investors wanted to put their money. However, as a result of the 2008 financial crisis, investors wanted to withdraw their money from the funds, but the money did not exist. This was also the case with Bacon and Sedgwick’s money.
– We had most of our money with Madoff. It was an important life lesson: if something is too good to be true, it really is too good to be true, Bacon noted.
Madoff’s pyramid scheme is said to be the largest in the world and is estimated to be worth around $65 billion. According to the Madoff Victim Fund, a charity website founded as a result of the scam, more than 40,000 victims have gotten their money back.
Bacon and Sedgwick are happy to have health. PDO
The couple would not confirm in an interview exactly how much money they lost. They say that they got “part” of their lost funds back. In the episode, Bacon also mentioned the legal battles through which some of the victims can still receive compensation.
– I have to say that there were a lot of people here who had a much worse situation than us. There were old people whose pension funds were completely destroyed. There will always be someone who has a much worse situation than you, Bacon said in the podcast.
According to Bacon, for example, health and the fact that he and his wife can work are more important than money.
– When something like this happens, you have to look each other in the eye and say: Well, this is deep, now let’s roll up our sleeves and get to work, he continued.
Bacon says he maintained an optimistic attitude throughout the time they suffered from financial problems.
Pyramid schemer Madoff died in prison last year at the age of 82. He served a 150-year sentence for his financial crimes.
Source: ET