Bernie Madoff: 6 Famous Victims of His Ponzi Scheme

Recognized to be a low-key Hollywood couple, actors Bacon and Sedgwick turned entrance and middle information when the scandal broke, as that they had been one of many first celebrities identified to have reportedly misplaced tens of millions of {dollars} investing with Madoff.

“I see him as a sick man,” Sedgwick informed Piers Morgan on CNN in 2012. “And I see us as adults who made a alternative. And I see lots of people who’re a lot worse off than we’re…”

Years later, Bacon echoed his spouse’s sentiments in regards to the scandal. “It was a foul day,” Bacon admitted to The Guardian throughout an interview in 2017. “However fairly rapidly we had been in a position to see all of the issues we had versus no matter we misplaced, and people are the most important cliches: kids, well being, love, a pleasant house. So we bought by it collectively. I don’t take into consideration Madoff, like, in any respect.”

He additionally added that the “actual victims” had been those that misplaced their total life financial savings. “I believe there’s a superb cautionary story there, to be cognizant of what’s taking place along with your cash.”

Jeffrey Katzenberg

Identical to Bacon and Sedgwick, Dreamworks Animation government Katzenberg, identified for producing hits just like the Shrek and Kung Fu Panda franchises, endured a considerable monetary loss, which he described as “painful and humiliating.” Though he additionally refused to debate the precise greenback quantity that was taken from him and his charitable group, Marilyn & Jeffrey Katzenberg Basis, the charity had estimated property of over $22 million earlier than the scandal broke.

The Los Angeles Occasions would later uncover that Katzenberg had misplaced $20 million. Each he and Spielberg shared the identical enterprise supervisor, who made investments with Madoff on their behalf.

“The primary time I heard the identify Bernie Madoff was about three weeks in the past,” Katzenberg informed reporters in January 2009. “What it has achieved to different individuals is horrible. It is destroyed many individuals’s lives. Those that I do know.”

Elie Wiesel

Earlier than his dying in 2016, Holocaust survivor and Nobel Peace Prize winner Wiesel was one other well-known determine taken in by Madoff’s prison enterprise. And when the information hit, Wiesel did not take the loss evenly.

Describing Madoff as “one of many best scoundrels, thieves, liars, criminals,” Wiesel and his spouse, Marion, had misplaced their life financial savings of $12 million, together with $15 million from their nonprofit group, Elie Wiesel Basis for Humanity.

“May I forgive him? No,” Wiesel informed a media panel in New York Metropolis in 2009 relating to Madoff. “To forgive, to begin with, would imply that he would come on his knees and express regret. He would not do this.”

Wiesel defined {that a} rich trusted buddy, who had been mates with Madoff for 5 a long time, launched the 2 of them. After Wiesel met with Madoff a number of occasions, he went on to get recommendation from different monetary consultants earlier than entrusting his private funds with Madoff.

In 2012 he mirrored again on his expertise throughout an interview with Oprah Winfrey. “[My wife and I] checked out one another, and our response was, ‘We’ve seen worse,’” Wiesel mentioned. “Each she and I’ve seen worse.”

As soon as information unfold about his basis’s monetary troubles, Wiesel mentioned he was bowled over from the general public’s response.

“Impulsively, we started receiving a whole bunch and a whole bunch and a whole bunch of letters and donations, small donations, from throughout America, Jews and non-Jews,” Wiesel informed Oprah. “The American persons are so beneficiant. … We obtained a whole bunch of them, and that helped us.”

John Malkovich

When actor Malkovich misplaced his funding of $2 million {dollars} to Madoff, he — like fellow actors Bacon and Sedgwick — put his issues into perspective.

“I don’t view it as a damaging expertise…,” he informed Particulars journal in 2013. “To me it was, ‘You suppose you’ve a bunch of cash – and also you don’t.’ So what? Most individuals don’t (have some huge cash). I believe it sort of reconnected me to how most individuals reside on a regular basis. And, in contrast to lots of people that had been concerned within the Madoff factor, I might simply return to work, and it was high-quality.”

So would he say something to Madoff if he had the chance? Malkovich informed Vainness Truthful, in his basic cool demeanor, not notably.

“I solely met Mr. Madoff as soon as, a few years in the past. He appeared very nice. However, you recognize, I don’t suppose I’d have a lot to impart,” he informed the journal in 2013. “For me, in all honesty, it was a superb life lesson.”

Ultimately, Malkovich reportedly obtained $670 thousand of his funding again.

Larry King

King met Madoff by his childhood buddy Fred Wilpon, proprietor of the New York Mets. On the time, King and his spouse had been searching for a good funding agency, and Wilpon steered he look into Madoff however warned King that the cash supervisor was identified for being selective about his clientele. King skilled Madoff’s choosiness firsthand, because the latter accepted King into his agency however not King’s brother.

When Madoff was arrested in 2008, the broadcasting legend suffered a $700K loss however fortunately, was in a position to get well it inside a couple of years.

“If I might interview one individual on the planet, it would be Bernie Madoff and the apparent [question] could be ‘Why? Why did you do that to individuals?'” King mentioned.

King’s buddy, Wilpon, would come out of the Madoff scandal a lot worse off, taking successful of $500 million.