Kevin Bacon Opens Up About Losing 'Most' Of His Money in Bernie Madoff's Ponzi Scheme

Kevin Bacon is opening up about his involvement in Bernie Madoff‘s Ponzi scheme, which lost the actor “most” of his money.

The 64-year-old Footloose star spoke on the Smartless Podcast, and looked back on the scheme.

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During the interview, Kevin shared that he and his actress wife, Kyra Sedgwick, had invested “most” of their money in Madoff‘s scheme.

“There’s obvious life lessons there. You know, if something is too good to be true, it’s too good to be true,” he shaerd. “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?”

Kevin did express his gratitude for his family in the interview, saying that “we’ve made it this far. Our kids are healthy. We’re healthy. We can still both work and 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.”

He notes that he doesn’t consider himself a true victim of Madoff‘s actions, as he was able to recoup some of his monetary losses, and put the focus on others who haven’t gotten that chance.

“Old people, people whose retirement funds were completely decimated. So there’s always gonna be somebody that’s gonna have it a lot worse than you,” he says. “Whatever the cliches … Whatever doesn’t kill you makes you stronger.”

Bernie died last year at the age of 82, while serving his sentence at the Federal Medical Center in Butner, North Carolina.