- Kevin Bacon spoke about losing "most" of his money in the Bernie Madoff Ponzi scheme.
- "We had most of our money in Madoff," Bacon said of him and his wife Kyra Sedgwick.
Kevin Bacon opened up on a recent episode of the "SmartLess" podcast, hosted by Jason Bateman, Sean Hayes, and Will Arnett, about him and his wife Kyra Sedgwick losing a lot of their money in the Bernie Madoff Ponzi scheme.
"We had most of our money in Madoff," Bacon told the hosts, around the 24-minute mark of the episode, after Hayes brought up the topic.
"There's obvious life lessons there. You know, if something is too good to be true, it's too good to be true," Bacon said. "When something like that happens, you know, you look at each other, then you go, 'Well, that sucks. Let's roll up our sleeves and get to work,' you know?"
"Certainly, you get angry and stuff, but I have to say that there were a lot of people who were much worse off than we were," Bacon continued. "Old people, people whose retirement funds were completely decimated. There's always gonna be somebody that's gonna have it a lot worse than you."
Madoff, who died in prison last year, carried out the largest Ponzi scheme in history, having conned investors out of a reported $65 billion over a span of decades. In 2009, he was sentenced to 150 years in prison."Whatever doesn't kill you makes you stronger," Bacon told Bateman, Hayes, and Arnett about the experience. "We just rolled up our sleeves."
"We've made it this far. Our kids are healthy. We're healthy," he said of how they got through it. "Let's look at what we have that's good. We can still both work."
Bacon revealed that he and Sedgwick did get "a portion of some money back" following a lawsuit, but it's impossible to know from what because none of it was real.
"The thing about it is it looks like a certain amount of money, there's the money that you put into something and then there's the money, in theory, that you get with interest over years, but that's not real," he said. "That's just a number that was on a piece of paper because it was not a real thing."