Kevin Bacon Victim of Wall Street Scam

It looks like being a celebrity can't protect you from being the victim of fraud.

According to New York Magazine Kevin Bacon and Kyra Sedgwick are victims of Bernie Madoff's $50 billion Ponzi scheme.

The news was confirmed by a representative for Bacon.

The exact amount of their loss isn't known, although some reports say the couple lost everything except the money they had in their checking accounts and the land they own.

The Bacons aren't the only ones in Hollywood to be victimized in the scam. Steven Spielberg, Studio Executive Jeffrey Katzenberg and screenwriter Eric Roth all reportedly lost substantial amounts of money.