Kevin Bacon and his wife lost money on investments connected to accused swindler Bernard Madoff

Kevin Bacon and his wife lost money on investments connected to accused swindler Bernard Madoff

Kevin Bacon and his wife lost money on investments connected to accused swindler Bernard Madoff, according to media reports. Economist Henry Kaufman lost several million dollars, which he had in a brokerage account with Bernard L. Madoff Investment Securities for more than five years, the Wall Street Journal said, citing Kaufman in an interview on Tuesday. Bacon and his actress wife, Kyra Sedgwick, also lost money with Madoff, the New York magazine said on its website on Tuesday, citing Bacon's representative, Allen Eichorn. Henry Kaufman and Kevin Bacon could not be immediately reached for comment. Madoff is accused of running a purported $50 billion, global Ponzi scheme in which earlier investors were paid off with investments from newer clients. Scores of wealthy people, banks, universities and charities all over the world are claiming to be victims of massive fraud, though the exact amount of money lost is not yet known in what could be the largest fraud in Wall Street history.