Kevin, Kyra among victims of fraudulent investment
News
oi-Staff
By Staff
New
York
(ANI):
Kevin
Bacon
and
his
wife,
actress
Kyra
Sedgwick,
have
also
been
dubbed
victims
of
fraudulent
investment
operation
headed
by
fund
manager
Bernie
Madoff.
Madoff,
the
perpetrator
of
the
biggest
financial
fraud
in
history
had
been
arrested
and
charged
with
securities
fraud
on
December
11.
His
swindle
was
alleged
to
involve
up
to
50
billion
dollars
in
cash
and
securities
through
Ponzi
schemes,
which
involves
paying
abnormally
high
returns
to
investors
out
of
the
money
paid
in
by
subsequent
investors,
rather
than
from
the
profit
from
any
real
business.
The
couple
had
entrusted
part
of
their
fortune
to
Madoff,
as
confirmed
by
their
publicist
Allen
Eichorn.
"I
can
confirm
that
they
had
investments
with
Mr.
Madoff
-
no
further
specifics
or
comment
beyond
that," the
New
York
Daily
News
quoted
Eichorn
as
telling
New
York
Magazine.
Bacon
and
Sedgwick
joined
a
list
of
wealthy
victims
from
all
over
the
world
including
the
wealthiest
woman
in
the
world
and
heiress
to
the
L'Oreal
empire
Liliane
Bettencourt,
Alicia
Koplowitz,
the
Spanish
billionaire,
director
Steven
Spielberg
and
Elie
Wiesel,
the
Nobel
laureate.