Kevin Bacon is one among many who fell sufferer to American fraudster Bernie Madoff, revealing he and spouse Kyra Sedgwick invested “most” of their cash within the man behind the most important Ponzi scheme in historical past.
The 64-year-old actor opened up about his ordeal to Jason Bateman, Sean Hayes and Will Arnett on their podcast SmartLess, saying the couple realized “apparent life classes” from the expertise.
“You understand, if one thing is just too good to be true, it is too good to be true,” the Footloose star mentioned on Monday. ”And when one thing like that occurs, you understand, you take a look at one another, then you definitely go, ‘Nicely, that sucks. Let’s, roll up our sleeves and get to work,’ you understand?”
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Bacon then expressed gratitude for his spouse, profession, and wider household. Bacon and Sedgwick, 57, married in 1988, and share two kids – 33-year-old son Travis Bacon and 30-year-old daughter Sosie Bacon.
We have made it this far. Our youngsters are wholesome. We’re wholesome. We are able to nonetheless each work and positively, you get indignant and stuff, however I’ve to say that there have been lots of people who have been a lot worse off than we have been,” he mentioned.
“Previous folks, folks whose retirement funds have been utterly decimated. So there’s at all times gonna be anyone that is gonna have it loads worse than you.
“Regardless of the clichés … No matter would not kill you makes you stronger,” he concluded.
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Footloose forged: Then and now
That is the primary time Bacon has spoken at size about his unwitting involvement in Madoff’s Ponzi scheme.
In 2017, he briefly commented on it in an interview with the Guardian, saying “it was a nasty day” and “we bought by it collectively.”
He then urged these studying to contemplate as an alternative the aged folks Madoff scammed, who he known as the “actual victims.”
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Bacon was requested by the podcast hosts if he was in a position to recoup any of the cash he and Sedgwick misplaced, and he mentioned they bought “a portion of some a refund” however hinted it wasn’t anyplace close to the entire quantity they misplaced.
Madoff, a financier who died in federal jail in April 2021 on the age of 82, admitted to swindling 1000’s of his purchasers out of billions of {dollars} in investments over a long time.
A court-appointed trustee has recovered greater than $13 billion of an estimated $17.5 billion that traders put into Madoff’s enterprise.
On the time of Madoff’s arrest, faux account statements have been telling purchasers that they had holdings value $60 billion.
He was sentenced to 150 years in jail by US District Choose Denny Chin in 2009.
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