10 Celebrities Who Lost Big To Bernie Madoff


By U.S. Department of Justice – http://money.cnn.com/2009/03/16/news/madoff_assets/index.htm, Public Domain,

It’s been almost eight years since Bernie Madoff’s elaborate Ponzi scheme netted him a 150-year jail sentence, but even to this day, his victims are feeling the impact of their losses, some of which stretched into the hundreds of millions.But instead of giving you a blow-by-blow account of what a Ponzi scheme actually is (the Google definition is pretty self-explanatory) we thought we’d take a look at 10 of his most notable celebrity victims, and inform you of how much they lost.

Here are 10 celebrities who lost big to Bernie Madoff.

1. Kevin Bacon and Kyra Sedgwick

The Footloose star could seemingly do no wrong in the 80s, and he seemed destined to become one of Hollywood’s most in-demand stars after a litany of box-office hits. However, Kevin Bacon didn’t quite achieve the stratospheric success his Outsider’s co-stars Tom Cruise, and Patrick Swayze did, but he still became a fully fledged Hollywood actor.

Shutterstock/ Everett Collection

But nowadays films aren’t the only kind of acting work taking up Bacon’s time. After losing millions along with his wife to New York conman Bernie Madoff, the actor was forced to film a string of adverts in the UK for a phone provider to claw back a significant portion of his and his wife’s life savings.

Opening up about the experience, the 58-year-old said, “It was a bad day, an absolutely horrible feeling, but you roll up your sleeves and get back to work. There was nothing that I had at that point that my wife and I hadn’t worked very hard for.”