Ponzi scheme almost brought these celebrities to bankrupt! Ponzi scheme definition is a type of fraud in which faith in the accomplishment of a nonexistent endeavor is cultivated by the installment of fast comes back to the principal speculators from cash contributed by later financial specialists. Or in other words – people invest in something and they believe will earn a lot of money from that. They don’t! This global pyramid scheme affected a lot of people and many bank accounts were left blank. These celebrities lost a lot of money to Madoff!
Singular financial specialists, enterprises, colleges and different casualties are as yet reeling from the $50 billion Ponzi plot Bernie Madoff concocted, eight years after the fraudster was sentenced to life in jail. HBO looks at the embarrassment in the new film “Wizard of Lies.”
Madoff’s customer list included numerous recognizable names who took noteworthy money related hits. While not the sum total of what sums have been unveiled, here are 10 of the greatest big names who got conned.
Steven Spielberg
The chief’s Wunderkinder Foundation lost an undisclosed sum. In 2006, around 70 percent of its advantage and profit salary originated from the Madoff firm.
Kevin Bacon and Kyra Sedgwick
The wedded stars of “Footloose” and “The Closer” lost an undisclosed sum. Sedgwick said at the time that despite the fact that she and Bacon weren’t monetarily pulverized, they lost hard-earned cash they thought was in a protected place.
Elie Wiesel
The late creator and Holocaust survivor’s Foundation for Humanity lost $15.2 million — “considerably all” of its benefits. Wiesel — who kicked the bucket in July 2016 at 87 years old — said of Madoff: “Might I be able to excuse him? No.”
Sandy Koufax
Alongside various other baseball greats, the Hall of Fame Dodgers pitcher was on Madoff’s customer program and lost an undisclosed sum.
Eric Roth
The Hollywood screenwriter credited with “Forrest Gump” and “The Curious Case of Benjamin Button” has said he endured “gigantic misfortunes” in the Madoff plot. Of the trick, he revealed to The Los Angeles Times: “The catastrophe is the general population who lost their life reserve funds and their fantasies.”
Larry King
The previous anchor person was on Bernie Madoff’s customer list, however lately he told the TV news demonstrate “Additional” that he was sufficiently fortunate to get back the cash he had contributed with the cheat.
Zsa Zsa Gabor
The performing artist and Hollywood identity — who passed on in December 2016 at age 99 — lost $10 million to Madoff. Her significant other, Frederic von Anhalt, stated, “In the event that I was in New York, I would take a baseball stick and hit this shocking man over the head.”
Jeffrey Katzenberg
The head of DreamWorks Animation and maker of the “Shrek” movies lost undisclosed millions.
“What it has done to other individuals is horrible. It’s wrecked many individuals’ lives. Individuals that I know,” Katzenberg said after the trick was uncovered.
John Malkovich
The performer has said he was “destroyed” fiscally by the trick. In 2011, he went to court to recover the $2.3 million he lost.
Eliot Spitzer
The family land firm of the previous New York senator lost an undisclosed sum in the Madoff extortion.