Hollywood actor Kevin Bacon and his wife, as well as a major Wall Street economist are the latest victims of accused fraud Bernard Madoff, as all of them have lost money in investments linked to the Ponzi plot organized by the shown up New York money manager, according to media reports.

 

Prominent economist Henry Kaufman suffered a loss of millions of dollars, which he had in a brokerage account with Bernard L. Madoff Investment Securities for over five years, the Wall Street Journal cited Henry Kaufman as saying.

 

The publication explained that the president of financial consulting firm Henry Kaufman & Co. assured that his financial loss represented approximately 2 percent of his entire net worth and that it was irrelevant to his economic comfort.

 

The economist made his breakthrough after accurately predicting highter inflation and interest rates in the 1970s and 1980s while he was chief economist with Salomon Brothers.

 

Kevin Bacon and his wife, Kyra Sedgwick, also lost money as a result of their investments with Bernard Madoff, the actor’s publicist Allen Eichhorn confirmed on Tuesday.

 

Madoff is accused of running an alleged $50 billion Ponzi scheme in which initial investors were paid off with funds from more recent clients.

 

Aside from the celebrity couple, other Hollywood victims have been filmmaker Steven Spielberg and his DreamWorks partner Jeffrey Katzenberg, who had managed a charity linked to Madoff, as well as screenwriter Eric Roth, whose credits include “Forrest Gump” and the recent “The Curious Case of Benjamin Button.”