Bacon Will 'March On' After Madoff Fraud

18 January 2009

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Actor Kevin Bacon was badly hit by the $50 billion Wall Street fraud - he lost almost everything he owns in the scandal.

The FrostNixon star and his actress wife Kyra Sedgwick were named as the latest celebrity victims of the Bernard Madoff securities scam last month (Dec08).

Former NasDAQ chairman Madoff was arrested on 8 December (08) on charges of securities fraud after allegedly ciphering billions of dollars from his clients in a scam which collapsed after people began asking for theirmoney back, due to the global financial crisis.

There's nothing you can do about it

And although the star's spokesperson refused to release details of how much Bacon and Sedgwick lost in the fraud, the actor has now confessed itcost him everything except his home and the money in the couple's bank account.

But he insists he will not let it wreck his life - and is already on the lookout for his next blockbuster movie role.

Bacon says, "We'll march on. We have to. There's nothing you can do about it. You can't change what happened. Things could be worse. You remember that, and you go on with your life. I didn't see it coming. I don't have anything lined up right now, but I need to work, for obvious reasons".

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