Kyra Sedgwick and her actor-husband, Kevin Bacon, were among the many victims of the massive Ponzi scheme run by financier Bernard Madoff.
Their early quotes on the subject were fairly measured, “It’s been really unpleasant and makes you feel really vulnerable. But the fact of the matter is that we did not lose everything,” she said. “We lost hard-earned money that we worked very hard for that was what we thought in a safe place. It’s painful but a lot of people lost a lot more.”
However, Sedgwick did a recent interview for the July/August More magazine that is mostly a fluff piece, but where she called the Madoff experience “infuriating” and him a “sick man”. She also revealed that being a vicitim of Madoff Ponzi scheme has “shattered” her trust in the U.S. government watching out for average citizens. She emphatically insisted that the SEC (Securities Exchange Commission) “knew” what was taking place and did nothing. The full write-up of her comments on the Madoff scandal is below:
With a long-running marriage in which both partners have enjoyed great professional success, there has been only one sour note in the couple’s household: their finances. On the advice of a family member, they invested for some 10 years with client-bilking financier Bernie Madoff. When she was told that their Madoff investments had all vanished, “I laughed. I just couldn’t believe it,” Sedgwick says. “It’s awful, and it’s really sad and infuriating. And there are a lot of people who are so much worse off than we are. He’s a sick man. . . You know what it’s shattered my trust in? The government taking care of us. The S.E.C. knew — they knew.”