Kevin Bacon is one of many who fell sufferer to American fraudster Bernie Madoff, revealing he and spouse Kyra Sedgwick invested “most” of their money in the person behind the biggest 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 “obvious life lessons” from the expertise.
“You know, if something is too good to be true, it’s too good to be true,” the Footloose star mentioned on Monday. ”And when something like that happens, you know, you look at each other, then you go, ‘Well, that sucks. Let’s, roll up our sleeves and get to work,’ you know?”
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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 youngsters – 33-year-old son Travis Bacon and 30-year-old daughter Sosie Bacon.
We’ve made it this far. Our children are wholesome. We’re wholesome. We can nonetheless each work and positively, you get offended and stuff, however I’ve to say that there have been loads of individuals who have been a lot worse off than we have been,” he said.
“Old individuals, individuals whose retirement funds have been utterly decimated. So there’s all the time gonna be any person that is gonna have it loads worse than you.
“Whatever the clichés … Whatever doesn’t kill you makes you stronger,” he concluded.
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Footloose forged: Then and now
This 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 bad day” and “we got through it together.”
He then urged these studying to contemplate as a substitute the aged individuals Madoff scammed, who he known as the “real victims.”
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Bacon was requested by the podcast hosts if he was capable of recoup any of the money he and Sedgwick misplaced, and he mentioned they acquired “a portion of some money back” 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 shoppers out of billions of {dollars} in investments over many years.
A court-appointed trustee has recovered greater than $13 billion of an estimated $17.5 billion that traders put into Madoff’s enterprise.
At the time of Madoff’s arrest, pretend account statements have been telling shoppers that they had holdings value $60 billion.
He was sentenced to 150 years in jail by US District Judge Denny Chin in 2009.
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