Name: Kevin Bacon And Kyra Sedgwick Lost Millions in a Scheme
Uploaded: 2023-10-12T13:38:19+00:00
Duration: 4 min 4 s
Description: In the 1980s, Kevin Bacon achieved iconic status through his roles in film, but decades later, he faced a staggering financial blow alongside his wife, Kyra Sedgwick, as victims of Bernie Madoff's col

2 years ago

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In the 1980s, Kevin Bacon achieved iconic status through his roles in film, but decades later, he faced a staggering financial blow alongside his wife, Kyra Sedgwick, as victims of Bernie Madoff's colossal Ponzi scheme. On a 2022 Smartless podcast, Bacon candidly shared their unfortunate entanglement in the fraud that siphoned billions from unsuspecting individuals, including the couple's reported losses that soared as high as $30 million. The pain of this deception was not just monetary. As Bacon articulated, the theoretical profits, a mere illusion on paper, exacerbated the sense of loss. While many victims of Madoff's deceit suffered, the actor acknowledged that some, including blue-collar workers and the elderly, bore even graver consequences. Yet, in the aftermath, Bacon's resilience shines through. He emphasizes life's invaluable treasures — health, family, and love — underscoring the belief that true wealth extends beyond material assets.

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Chapters:
00:00 Intro
00:21 The Financial Crisis of Kevin Bacon and Kyra Sedgwick
00:51 Openness About the Scam
01:13 Bernie Madoff's Crimes Detailed
01:29 Extent of the Financial Loss
01:46 The Reality of the Losses
01:59 -Madoff’s other Victims
02:19 Bernie Madoff's Downfall
02:37 A Positive Perspective
03:02 Other Celebrities Affected by Madoff
03:22 Current Financial Status