11 Celebrities Who Got Scammed by Bernie Madoff and Lost Millions
Nearly 7 years after Bernie Madoff was given a 150-year prison sentence, thousands of individual investors, pension funds, corporations and universities who lost big in the fraud king's $50 billion Ponzi scheme are still reeling from the losses.
Celebrities Scammed by Madoff
Nearly 7 years after Bernie Madoff was given a 150-year prison sentence, thousands of individual investors, pension funds, corporations and universities who lost big in the fraud king's $50 billion Ponzi scheme are still reeling from the losses. Madoff's client list included many familiar names who took significant financial hits. While not all amounts have been disclosed, here are 11 of the biggest celebrities who got conned.
The director's Wunderkinder Foundation lost an undisclosed amount. In 2006, about 70% of its interest and dividend income came from the Madoff firm.
Kevin Bacon and Kyra Sedgwick
The married stars of "Footloose" and "The Closer" lost an undisclosed amount. Sedgwick said at the time that although she and Bacon weren't financially destroyed, they did lose hard-earned money they thought was in a safe place.
The author and Holocaust survivor's Foundation for Humanity lost $15.2 million, "substantially all" of its assets. Wiesel said of Madoff: "Could I forgive him? No."
Along with a number of other baseball greats, the Hall of Fame Dodgers pitcher was on Madoff's client roster and lost an undisclosed amount.
The Hollywood screenwriter credited with "Forrest Gump" and "The Curious Case of Benjamin Button" has said he suffered "massive losses" in the Madoff scheme. Of the scam, he told The Los Angeles Times: "The tragedy is the people who lost their life savings and their dreams."