Bernard Madoff, who was arrested in December and charged with securities fraud, oversaw a fund that managed capital for investors of varying income, hedge funds, banks and institutions including foundations, pension funds and charities. He fooled them for more then a decade...Kevin Bacon
Hollywood actor Kevin Bacon and his actress wife Kyra Sedgwick are the latest people to have lost money on investments connected to accused swindler Bernard Madoff, according to media reports and according to Bacon's representative, Allen Eichorn.
Madoff is accused of running a purported $50 billion dollar global scheme in which earlier investors were paid off with investments from newer clients. Scores of wealthy people, 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, this is being considered one of the largest frauds in Wall Street history.
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