Kevin Bacon is opening up about the impact the Bernie Madoff Ponzi scheme had on him and wife Kyra Sedgwick.
The longtime couple was reported to have lost ‘millions’ when they were among the investment victims caught in the Bernard L. Madoff Investment Securities scandal said to be estimated at around $64.8 billion.
In a new interview with Esquire, the acclaimed actor confessed the ordeal ‘sucked’ when the news broke in 2008, but he and Sedgwick quickly opted to focus on the blessings they had in life as opposed to what they lost.
‘There’s not that much to say, really. If it seems too good to be true, then it’s too good to be true,’ Bacon, 66, shared on the topic straight away.
‘It sucked, and we were certainly angry and all the things,’ he said of their initial feelings.
‘But then we woke up the next day and said, “What do we got? We love each other. We love our children. We’re healthy. No one took away our ability to make a living.” So we got back to work.’
Kevin Bacon, 66, opened up about how it ‘sucked’ losing so much of his and wife Kyra Sedgwick’s fortune in the Bernie Madoff Ponzi scheme, but maintained they never got ‘jaded’
The Philadelphia, Pennsylvania native even makes a point that he and his wife never got ‘jaded’ after having been ripped off by Madoff, which was said to be ‘most’ of their money at the time, he told Business Insider in 2022.
‘More careful,’ he says of their attitude in the days, weeks, and months moving forward, ‘But not jaded.’
The Footloose star would also reveal how he uses the bad taste from the Madoff scandal as motivation that he can get through anything tough, especially when he’s at the gym.
It turns out, the fitness facility where he works out in New York City is right across the street from the building where Madoff used to work.
And when he lays back to use the leg press machine it’s situated ‘right next to a window’ so when he looks out he’s always reminded of the ordeal.
‘I’m in excruciating pain, doing the leg press, staring out that window. It’s perfect, in a funny way, because I also have to think, ‘I can get through this,’ Bacon said, before adding, ‘And that’s how we felt about Madoff.’
In a previous interview with GQ in 2015, Bacon confessed that there were ‘so many people who got hit so much harder’ financially than he and Sedgwick, who have been married since 1988.
After being convicted, Madoff ended up being sentenced to 150 years in prison in 2009 for defrauding thousands of investors out of their investment money over the years.
Bacon says he and Sedgwick woke up the day after the scandal broke in 2008 and began to focus on their blessings: ‘What do we got? We love each other. We love our children. We’re healthy. No one took away our ability to make a living. So we got back to work’
Madoff, who was sentenced to 150 years in prison for defrauding thousands of investors out of nearly $65 billion, died while in custody of natural causes at the age of 82 in April 2021
Longtime loves, Bacon and Sedgwick have been married since September 1988
His victims reportedly got a $4.3 billion payout, which is a fraction of the nearly $65 billion stolen in what is considered the largest known Ponzi scheme in history.
Ultimately, the criminal financier died at a North Carolina federal medical center at the age of 82 in April 2021 after suffering from a series of health problems,
Bacon is currently out promoting his new Amazon Prime Video series The Bondsman, which just premiered on April 3.
The action horror series, created by Grainger David, tells the story of a backwoods bounty hunter who comes back from the dead with an unexpected second chance at life, love, and a nearly-forgotten musical career — only to find that his old job now has a demonic new twist, according to Wikipedia.
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