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Kevin Bacon Loses Shirt in Madoff Mess

12/31/2008 2:01 AM PST BY TMZ STAFF

Let's hope those residuals from "The Closer" are coming in: Kevin Bacon and Kyra Sedgwick are the latest victims of the Bernie Madoff Ponzi scheme.

Bacon's rep confirmed to New York mag yesterday the Bacons were struck by Madoff's $50 billion eff-up, though he wouldn't go so far to say they'd lost their pants, too -- "Please, let's not speculate or rely on hearsay." Jeffrey Katzenberg and Steven Spielberg were among the others who have lost big bucks in Madoff's bald-faced scheme.

And several sources tell us there are many more celebs who don't even know they've lost money -- so check those brokerage accounts!

19 COMMENTS

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1.

Ababyvoice™    

I will say that I believe that stealing from others is completely wrong. But if those that invested money with Madoff did not check to see exactly what was going on with their money then they were not very smart. Also I am told that Madoff was promising 10% to 13% return of investment in short periods of time. That is normally unheard of. This is a case where the investors were being greedy and wanted to get something for nothing!

Before you invest do the research get second opinions. The money is yours and you should protect it as much as possible. I wish all that lost their money luck and I hope they get some of their money back.

2020 days ago
2.

rich    

That no way looks like Tom Bradynot even close,, that picture looks like me, three times people have told me i look like kevin baccon.....


Kevin rocks and i wish him and his wife they best, as long as they have there health, its whats important
they will do ok. they have talent
and madoff gets whats coming to him......


peace out

2019 days ago
3.

Meghan    

That photo is Tom Brady...not Kevin Bacon.

2091 days ago
4.

xcalibur    

Re: #1. Nah bro.. that is Kevin Bacon. Check out the wrinkles, much older than Brady. LOL.

As to the article.. Just goes to show money and intelligence don't hand in hand. Even idiots like me knew to invest in safe government backed securities like cash, bonds, treasuries, etc. months ago. Didn't need to pay some schmo like Madoff to figure that out. I'm sure the Bacons only lost like 2-3 mil or so. Kevin Bacon has done many films but even he admits he's not on the top of the celeb pay scale and neither is his wife. Don't think he lost that much - but I could be wrong! LOL.

2091 days ago
5.

Luke Warmwater    

Easy come, easy go. I'd be more sympathetic if it wasn't just a couple of actors who make so much from doing so little.

2091 days ago
6.

Eradio    

Damn that 6 degrees of Kevin Bacon!!

2091 days ago
7.

bilbo baggins    

I believe the poor of the world should eat the rich.................

2091 days ago
8.

Meghan    

xcalibur...let's set it straight...I am a girl...I used "Wrong Guy" as a name because that's the wrong guy. I don't see what you mean about the wrinkles, your computer must be clearer than mine. The story is about Kevin Bacaon...but that IS Tom Brady...this picture is from a story TMZ had a few days ago on him.

Trust me...it's Tom.

2091 days ago
9.

Anita    

STOP BLAMING THE VICIMS !!!!

Stealing is not right!
It does not matter if you steal a rich persons money or jewellry or a poor person's bread !!

2091 days ago
10.

GirlWithTheCurl    

How is what Madoff did any different that the Social Security pyramid scheme?

Madoff actually tried to make money for his clients, and he will be prosecuted, unlike CONgress.

2091 days ago
11.

Lycan    

Can't really be too sympatheic for him or the others.

Basically they were trying to get something for nothing.

There were people interviewed when this first came out that even admitted they wondered how they were getting such high returns on their money. They knew something couldn't be on the right but didn't care because they kept seeing the money grow. It's what greed gets you.

Many of these celebrities were probably ignorant to what the deal was (cause let's face it, there are not many bright bulbs on the hollywood sign) but I'm sure there were plenty that knew those were way too high returns to be "true" but didn't care about the "hows" or " whys" cause it was just more money.

Then you would also think that with so many having had their money stolen that others would have learned to take a more active role in what they have. Guess not and that's their fault.

They should follow the example of us commoners and balance a check book every once in a while to get a clue could help in the long run....but that reverts back to the "not to many bright bulbs...." situation.

Kinda have to giggle at the downfall of egos.

Like the saying goes..."if it seems too good to be true....."

2091 days ago
12.

So much for being a virgin    

Madoff, or rather Made-Off with their money!

2091 days ago
13.

tard in the hood    

TAKE CARE OF YOUR OWN MONEY!!!!! Do NOT trust anyone with it!

2091 days ago
14.

misskitty    

I feel bad for Kevin Bacon and his wife. Yes, they are rich, but it still does not make it right for someone to steal their money. Plus, Kevin and his wife seem very chill. They are not one of those acting couples that makes just asinine salaries, you never see them out fame-whoring, they seem to live a rather quiet life for two hollywood actors. Besides, how can you steal 'Ren's' money? That is just wrong.

2091 days ago
15.

me bitchin    

That pic is not of Tom Brady, it's Kevin Bacon.
It doesn't even look like Tom Brady..........take off your beer goggles!!

2091 days ago
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