Celebrity Justice
Kevin Bacon Loses Shirt in Madoff Mess

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!

Reader Comments

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

Posted at 8:41AM on Dec 31st 2008 by Wrong Guy...

2. 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.

Posted at 9:14AM on Dec 31st 2008 by xcalibur

3. 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.

Posted at 9:22AM on Dec 31st 2008 by Luke Warmwater

4. Damn that 6 degrees of Kevin Bacon!!

Posted at 9:46AM on Dec 31st 2008 by Eradio

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

Posted at 9:34AM on Dec 31st 2008 by bilbo baggins

6. 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.

Posted at 10:22AM on Dec 31st 2008 by That's the Wrong Guy...

7. 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 !!

Posted at 10:55AM on Dec 31st 2008 by Ron

8. 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.

Posted at 11:14AM on Dec 31st 2008 by gone gulchin'

9. 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....."

Posted at 2:34PM on Dec 31st 2008 by Lycan

10. Madoff, or rather Made-Off with their money!

Posted at 12:43PM on Jan 6th 2009 by Karma

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

Posted at 11:47AM on Dec 31st 2008 by blinky

12. 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.

Posted at 12:47PM on Dec 31st 2008 by misskitty

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

Posted at 2:01PM on Dec 31st 2008 by me

14. I am in full agreement with #12

Posted at 8:47PM on Dec 31st 2008 by Rhonda

15. I feel very sorry for these guys, they aren't the richest actors and they are both very talented. Hope they didn't have too much of their stuff in with that fund.

Those who hate on peope who worked their asses off and made it (Kevin and Kyra didn't start out with millions) need to remember what Yogi Berra said, when he said he'd feel bad for a millionaire who lost their money.

"Imagine having a million dollars. Imagine that. Now imagine losing it."

Hope they didn't lose it all.

PS Tremors is one of my favorite movies and The Closer is one of my favorite shows, but whoever gets taken by something like this it ain't right.

Posted at 12:26AM on Jan 1st 2009 by Jersey Dave

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