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There has been a long-standing joke in Hollywood that actor Kevin Bacon is separated from everyone by six degrees. That six degrees just got a little too close for Bacon and wife Kyra Sedgwick.
The famous couple are reportedly victims of Bernie Madoff's $50 billion Ponzi scheme. Bacon's rep, Allen Eichorn, told New York Magazine on Tuesday the rumor that Madoff swindled the couple is true. "I can confirm that they had investments with Mr. Madoff - no further specifics or comment beyond that," he said.
Rumors are swirling that the couple lost everything except their checking accounts and the land they own. That would be a lot of money since Bacon, who came to fame in the move "Footloose" and Sedgwick, star of "The Closer," have worked in the business for a long time.
Bacon and Sedgwick aren't the only Hollywood power-types tangled up in the mess. The Wall Street Journal is reporting that Steven Spielberg's Wunderkinder Foundation was hit and that Jeffrey Katzenberg's DreamWorks lost millions.
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