Ok, so while celebrities may not be exactly like us, they do share the same feelings and struggles that the rest of us feel – especially when it comes to falling victim to a scam. As the rest of us hit “delete” on those emails from Nigerian princes asking for money, celebrities are often faced with even bigger threats because of their high net worth. In fact, the millions in their bank accounts are like a huge flashing “Welcome! Come on in!” sign for scam artists!
Curious to see just how the rich and famous fall victim to shady schemers and scam artists, we found 23 celebrities who were tricked into some of the biggest financial scams of all time. From Ponzi schemes and fine art to family thieves and incompetent financial advisors, we found high profile scams that cost celebs a pretty penny. Are you ready? Let’s get started with one of Hollywood’s favorite couples!
#23 – Kyra Sedgwick & Kevin Bacon
Married since 1988, lovebirds Kyra Sedgwick and Kevin Bacon are easily some of the biggest names in Hollywood thanks to their incredible success. Sedgwick landed her biggest role to date and earned an Emmy Award for her performance in the TNT hit series, “The Closer”. As for her husband, who doesn’t love Bacon? Starring in big time films like Footloose and Tremors, he is a Golden Globe Award winner and the brain child behind “Six Degrees of Separation.”
Despite their fame and fortune (or perhaps because of it), the celebrity couple fell victim to one of the biggest Ponzi schemes of all time. Getting involved in Bernie Madoff’s infamous scheme that waxed people out of millions, Sedgwick and Bacon were scammed out of an estimated $100 million. Although it seemed like the money was gone forever, the couple has been able to get some of their money back after a highly publicized trial where Madoff was sentenced to 150 years behind bars.
#22 – John Denver
“Take me home, country roads.” Born in 1943 as Henry John Deutschendorf, Jr., John Denver is one of the most popular folk musicians in history. Getting his start in the 1960s, Denver achieved great commercial success by the 1970s and quickly became America’s best-selling performer. Known for hits like “Take Me Home Country Roads” and “Rocky Mountain High”, Denver released around 300 songs and remained active in the industry until his tragic death in an airplane crash in 1997.
Much like Kyra Sedgwick and Kevin Bacon, John Denver also fell victim to Bernie Madoff’s Ponzi scheme. Only this time, believe it or not, it happened well after Denver’s death. How exactly? Denver’s friend and business partner, Harold Thau, worked with Denver to launch various companies including John Denver Concerts and John Denver Enterprises. After the singer’s death, the companies invested a lot of money with Madoff but it remains unknown exactly how much the schemer was able to make off with before being caught red handed.
#21 – Jeffrey Katzenberg
This is what legends are made of! You can’t talk about legends in Hollywood without bringing up the illustrious Jeffrey Katzenberg. Now serving as the CEO of DreamWorks Animation, Katzenberg spent 10 years as the chairman of Walt Disney Studios from 1984 to 1994. Responsible for some of Disney’s biggest hits including The Little Mermaid, Beauty and the Beast, Aladdin and The Lion King, Katzenberg is a household name when it comes to film.
However, not even this savvy Hollywood businessman could avoid the lure of the infamous Bernie Madoff. Revealing that he lost $20 million in the scheme, Katzenberg was completely distraught by the damage done to his charitable work. He told reporters, “This is extremely painful and humiliating for me. It has done extraordinary damage to my philanthropy.” Katzenberg also said that whenever he saw Madoff’s name in the news, he knew deep down that his money was gone forever. With an estimated $800 million net worth, we have no doubt this millionaire will recover quickly.
#20 – Cindy Crawford
The camera loves her! Named as one of the “100 Hottest Women of All Time,” Cindy Crawford is one of the most influential models in the industry. Recognized for her stunning beauty and trademark mole, Crawford caught her first major break in the late 1980s and became the biggest name in fashion by the 1990s. Add in hundreds of magazine covers, roles in television and film, and her work as a spokesperson, and it makes perfect sense that Crawford is an international celebrity.
Formerly named by Forbes as the highest paid model on the planet, Crawford experienced a scam closer to home when she and her husband, Rande Gerber, were extorted out of $100,000 by aspiring German model, Edis Kayalar. Kayalar tried to sell Crawford a photo of her seven-year-old daughter tied to a chair and gagged. Though the photo was taken by the nanny as part of a cops-and-robbers game, Kayalar’s attempt to extort the supermodel in 2010 was anything but a game and resulted in a two-year sentence behind German bars.
#19 – Zsa Zsa Gabor
Still going strong at 98 years old, legendary Hungarian actress Zsa Zsa Gabor is perhaps best known for her high profile relationships rather than her roles on the silver screen. With an astonishing total of nine husbands, she finally found “the one” in 1986 when she married Frederic Prinz von Anhalt, a marriage that is still going strong today. Full of grace, charm and exotic sex appeal, the European icon has starred in films such as Moulin Rouge and Lovely to Look At.
Yet another victim of Bernie Madoff’s Ponzi scheme, Gabor and her husband invested with Madoff only to lose an upwards of $10 million by 2009. Chris Fields, Gabor’s attorney, told the press, “We are making an assessment of the full extent of the losses. We aren’t doing anything yet, but we’re meeting with accountants to find out where everything leads.” According to Fields, he had four other clients affected by the scheme with over $35 million lost and counting.
#18 – Keri Russell
Getting her first taste of Hollywood in the early 1990s, Keri Russell’s career started alongside future stars Justin Timberlake, Ryan Gosling and Britney Spears on the Mickey Mouse Club. Cast in 1998 as Felicity Porter on the hit series Felicity, which ran until 2002, Russell won a Golden Globe Award for her stellar performance. Since then, she has appeared in numerous films including Mission Impossible III, Dawn of the Planet of the Apes and, most recently, a television series titled The Americans.
The former Felicity star was sleeping peacefully when she was scammed by robbers who entered her home through an open window in the next room. The burglars rummaged through her home and made off with a designer handbag, a laptop and jewelry, all of which was estimated to be worth $15,000. Awoken by the voices in the next room, Russell hurriedly called 911. Thankfully, the items were recovered by the New York Police Department and the burglars were carted off to jail.
#17 – Kim Kardashian
Famous simply for being famous, Kim Kardashian first made headlines as Paris Hilton’s best friend but, everything changed in 2007 when a sex tape with her former boyfriend, Ray J, was leaked. Using the bad publicity for her benefit, Kardashian and her family made their reality television debut just months later in Keeping Up with the Kardashians. Now reported as the highest paid reality television star with an estimated $53 million net worth, Kardashian spends her time with husband Kanye West as they welcome their second child.
Much like the many high profile victims of Bernie Madoff, Kardashian was one of many scammed by a Florida woman named Kyah Green and her son, Luis Flores. The mother-son duo started small by stealing checks from their coworkers and then turned to celebrity bank accounts where they made numerous fraudulent wire transfers. Making off with a total of $70,000 from Kardashian alone, Green and Flores were convicted in 2013 only to reveal that they had hacked other celebrities including Beyonce Knowles and Paris Hilton as well.
#16 – Sandy Koufax
The lefty is at it again! Regarded as one of the best pitchers in baseball history, the left-handed Sandy Koufax spent 12 seasons with the Brooklyn/Los Angeles Dodgers from 1955 to 1966 until arthritis ended his career when he was just 30 years old. With a total of 165 career wins, Koufax was named to seven All-Star teams, won four World Series titles and became the youngest player to ever be inducted into the Baseball Hall of Fame.
Looking for another big win outside the diamond, Koufax took advice from his friend, Fred Wilpon, the owner of the New York Mets, to invest with Bernie Madoff. Joining the 163-page list of other celebrities and clients who ended up losing millions in the $50 billion scam, Koufax’s investment remains unknown, but we imagine it was a pretty penny even for this hall of famer. Of course, the Mets, who reportedly lost billions, claimed that their loss was minor by saying “It doesn’t affect the Mets. It doesn’t affect any of our other operating businesses.” In other words, “Let’s play ball!”
#15 – Uma Thurman
“She wants to dance like Uma Thurman.” While Fall Out Boy fans might think Uma Thurman is only the name of a song, she is actually one of the most notable actresses in Hollywood over the past 20 years. First rising to fame in 1994 after her role in Pulp Fiction, the Golden Globe Award winner has been a huge hit in films such as Kill Bill, Batman & Robin and the miniseries Hysterical Blindness.
Despite being known for her maturity and poise even at a young age, Thurman fell victim to a Ponzi scheme only this time it wasn’t Bernie Madoff. Shocking, right? New York attorney Ken Starr used his power and persuasion to convince high profile clients like Thurman to invest with him, allowing him to accumulate $35 million in no time. Finally caught red handed, Starr was charged with 23 criminal counts and had a $10 million bail. Sentenced to over seven years in prison, Starr is set to be released in 2016 on good behavior but we imagine this doesn’t include returning Thurman’s $1 million.
#14 – Eliot Spitzer
A big name in the Big Apple, Eliot Spitzer served as the state’s Attorney General of New York for eight years before he was elected as the state’s 54th Governor in 2007. Serving just over a year in office, Spitzer’s run as Governor fell short after a nasty prostitution scandal led to his resignation. Since then, he has worked (and since resigned) as a television journalist on Current TV’s Viewpoint with Eliot Spitzer.
Apart from the prostitution scandal, Spitzer was writing a column for Slate magazine when he admitted that he, too, was a victim of Bernie Madoff’s Ponzi scheme. Despite never having met Madoff, Spitzer invested quite a bit of his family firm’s money with the schemer. Not seeming too distraught over the loss, Spitzer shrugged his shoulders and told the media, “Bernie Madoff was worse for the Jews than anyone since David Berkowitz,” which is pretty harsh considering Berkowitz is the real identity of the Son of Sam Killer.
#13 – Hillary Clinton
Another politician on the list, Hillary Clinton is looking for her second round in The White House, only this time she’s looking to serve as President rather than First Lady. Married to former President Bill Clinton, Hillary was elected as Senator from 2001 to 2009 at which time she served as the Secretary of State until 2013. Currently, she is a Democratic candidate in the 2016 Presidential election with hopes of becoming the first female President.
Even the potential leader of the free world has been a victim of money scams. Clinton reached out to Claudio Osorio, a successful businessman and founder of CHS Electronics, for a contribution to her campaign. Happy to help, Osorio donated $22,000 to Clinton but only because it wasn’t really his money. In 2012, Osorio went to prison for multiple accounts of fraud including scamming money from a charity collecting donations for Haiti’s earthquake victims. After he was sent to jail, Clinton was forced to cough up the $22,000 of Osorio’s dirty money.
#12 – John Malkovich
Easily known as one of the hardest working actors in Hollywood, John Malkovich has appeared in over 70 films. First making his film debut in 1984 across from Sally Field in Places in the Heart, the Academy Award nominated actor is best known for his work in films including Being John Malkovich, Line of Fire, Con Air, RED, and Empire of the Son. He has also produced films including Ghost World and The Perks of Being a Wallflower.
Yet another actor on our list duped by Bernie Madoff, Malkovich invested $2.3 million with Madoff’s Ponzi scheme. Once he learned he was a victim of fraud, Malkovich sued to get his money back only to be told by the courts that he would only recover $670,000 of the money lost. Obviously looking on the bright side, Malkovich told a reporter in a 2013 interview, “It was a good life lesson and I was lucky, as I’ve been my entire life. I could go back to work and make my way in the world” while others, unfortunately, weren’t so lucky. Perhaps that’s one of the many perks of being John Malkovich.
#11 – Jack Nicholson
Maybe this is as good as it gets! A Hollywood legend with a career spanning nearly 60 years, Jack Nicholson is one of the most talented men on the silver screen. Known for playing a variety of roles in genres like comedy and romance to psycho-drama thrillers, Nicholson is the most nominated actor in the history of the Academy Awards with 12 nominations and two wins for stellar performances in films such as One Flew Over the Cuckoo’s Nest and As Good as it Gets.
Often the epitome of “calm, cool and collected,” Nicholson shocked many of his fans when he fell victim to a scheme. Convinced by Todd Michael Volpe to purchase rare art, Nicholson lost out on over $2.5 million as Volpe knowingly made some notoriously bad and shady deals among his wealthy clients. As the scheme spiraled out of control in 1998, Volpe was arrested and investigated, leading to a 28-month prison sentence as a result of several fraud charges. Don’t feel too bad for Nicholson, though, he’s still one of the richest actors on Earth.
#10 – Larry King
Born Lawrence Harvey Zeiger in 1933, Larry King has come a long way since his first debut as a local Florida journalist and radio interviewer in the late 1950s. By 1985, King was contracted to host CNN’s newest nightly television program, Larry King Live, a career move that would last until 2010. Since leaving CNN, the award-winning journalist has joined Hulu and RT America where he hosts Larry King Now and Politicking with Larry King.
Planning for retirement early in his career, King intended to use his investments as a cushion for life off the air. Unfortunately, however, the person he chose to invest with was none other than Bernie Madoff. Are you beginning to see a trend here? Like so many others, King invested $1 million with Madoff but was only able to recover $700,000. Calling off his retirement for a variety of reasons, we’re glad that Madoff didn’t get the best of one of America’s favorite and legendary journalists.
#9 – Julianne Moore
First debuting as a soap opera star in the late 1980s on As the World Turns, Julianne Moore made her first major film debut in 1990 in Tales from the Darkside: The Movie. Known for playing complex and emotionally troubled women, her stellar performances have earned her numerous awards for films such as Boogie Nights, The Lost World: Jurassic Park, The Big Lebowski, Children of Men, The Hours and Hannibal.
From emotionally troubled characters on screen to emotionally distraught in real life, Moore was robbed in the midst of summer 2012 as her New York City home was being renovated. The thieves swiped numerous valuables including jewelry estimated to be worth $127,000 with a bracelet worth $33,000 alone. New York City Police investigated over two dozen construction workers in the area but neither the thieves nor the jewelry were found. Thankfully, with a net worth of $40 million, Moore can easily afford to replace her beloved jewels.
#8 – Kiefer Sutherland
The son of legendary actor Donald Sutherland, Kiefer Sutherland first debuted on screen with his dad in the 1983 comedy-drama Max Dugan Returns. Rising to fame in Hollywood in the late 1980s and 1990s, Sutherland landed award-winning roles in films including Stand By Me, The Lost Boys, A Few Good Men and A Time to Kill. Despite his widespread success on film, however, he is best known for his role as Jack Bauer on the hit Fox television series 24.
The savvy Jack Bauer of 24 didn’t seem to translate well with Sutherland as the actor got involved with Michael Wayne Carr, a steer-roping promoter and schemer. Carr persuaded a team of investors, including Sutherland, to give him $1.5 million; unfortunately, Carr had no intention of ever making or giving the money back. Sutherland lost out on $956,000 but proved to be one of the lucky ones as his money was returned after a court ruled in his favor. As for the shady schemer, he was charged with 12 counts and sent to prison for grand theft and forgery.
#7 – Sting
Born in England in 1951, Gordon Sumner is better known to the world as Sting, the former lead singer and bass player in the 1970s and 1980s for the legendary rock band, The Police. Named as one of the world’s best-selling music artists, Sting has sold over 100 million records and has earned numerous awards throughout his career, including high honors from Queen Elizabeth II as well as a Golden Globe and an Emmy.
As one of the biggest philanthropists in the music industry, Sting is, shockingly enough, worth an estimated $300 million, a number that is music to any scam artist’s ears. Despite his good intentions, Sting unknowingly hired one of these scam artists as his financial advisor. The schemer, hoping Sting wouldn’t notice, opened over 100 bank accounts and began stealing money from Sting’s accounts. In a scam that lasted over 15 years, Sting finally caught on to the schemer’s tricks only to discover that he had already gotten away with a whopping $10 million.
#6 – Elton John
“Goodbye Norma Jean…” Another Brit on our list, Sir Elton John is one of the biggest names in music history with an impressive career spanning 50 years. He also happens to be one of the richest gay people on the planet. Born as Reginald Kenneth Dwight, John began playing piano when he was just three years old, forever sealing his fate in music. Selling over 300 million records, the legendary composer and songwriter has had over 50 hit songs not to mention dozens of honors including six Grammy Awards, five Brit Awards, a Golden Globe, a Tony Award and more.
During one point in his career, John was managed by Andrew Haydon and Pricewaterhouse Coopers who began taking money from John’s account repeatedly. When John made the discovery, he wasn’t too thrilled to learn that $29 million had been stolen from his account. Enraged, John took them to court in what resulted in a long and expensive battle that proved to be all for nothing. With little evidence to support John’s claim, the court dropped the case leaving him to foot the bill for over $10 million in legal fees alone. Ouch!
#5 – Ben Stiller
With legendary parents like Jerry Stiller and Anne Meara, few were surprised when Ben Stiller followed in their footsteps and made his way into the world of comedy. Launching his career at just 15 years old, Stiller is now an award-winning actor, filmmaker and writer with over 50 hit films including Zoolander, There’s Something About Mary, Meet the Parents, DodgeBall, Tropic Thunder and Night at the Museum.
Despite being a savvy filmmaker, Stiller was one of the many unfortunate victims who hired Dana Giacchetto as his financial advisor. Hindsight being twenty-twenty, Stiller was one of Giacchetto’s biggest clients and lost $250,000 to the schemer before he learned the truth. Finally caught in 2000 at the Newark Airport after presenting a fake passport, Giacchetto was charged with fraud and was later sent to prison after his web of lies unraveled revealing he stole around $10 million from his clients. What a dirt bag!
#4 – Wesley Snipes
Born in Orlando, Florida and raised in the Bronx, New York, Wesley Snipes was just 12 years old when he began training as a martial artist. By the age of 23, he debuted in his first major film with Goldie Hawn in Wildcats. From there, his 1987 performance in Michael Jackson’s “Bad” music video caught the attention of Spike Lee, launching his Hollywood career. Often starring in action films like Demolition Man thanks to his talent as a martial artist, Snipes is perhaps best known for his role as Blade in the Marvel Comics trilogy.
Being quick on his feet, however, wasn’t enough for Snipes when it came to avoiding Uncle Sam to the tune of $38 million in back taxes. Snipes claimed that he was actually scammed into not paying the taxes by a man named Eddie Kahn who convinced him that he could use the 861 argument to avoid paying income taxes. Of course, the argument was never approved. Snipes was busted for tax evasion and filed bankruptcy.
#3 – Robert De Niro
Catching his first major break in acting in the early 1970s with films like Bang the Drum Slowly, Robert De Niro paired up with Martin Scorsese in 1973 for Mean Streets in what would become a lifetime of collaboration. Starring in over 90 films, Hollywood’s favorite A-lister has earned numerous nominations and awards for his stellar performances in hits like Taxi Driver, The Deer Hunter, Silver Linings Playbook, Analyze This and Meet the Parents.
Much like his Hollywood colleague and fellow actor Jack Nicholson, De Niro was also scammed when it came to fine art. Left with a large collection of art after his father’s death, De Niro looked to sell the pieces and enlisted the services of Lawrence Salander, whose name sounds just as slimy as his ethics! Salander sold the paintings at top dollar but tried to hide the $88 million sale from De Niro, refusing to share the money. The deceitful schemer was later charged with numerous counts of grand larceny and is currently behind bars in Rikers Island.
#2 – Billy Joel
“It’s nine o’clock on a Saturday…” More than 40 years ago, Billy Joel took the music world by storm with the release of his first hit song “Piano Man” and he hasn’t looked back since. A master songwriter and performer, Joel has written all of his hits and is the sixth best-selling recording artist in the United States. With half a dozen Grammy Awards and over 150 million record sales worldwide, Joel is truly a legend in the industry.
Like so many other celebrities, Joel learned the hard way that doing business with family can do more harm than good. Joel hired his former brother-in-law, Frank Weber, as his manager only to discover that Weber regularly stole money and made unauthorized investments on Joel’s behalf. When all was said and done, Joel learned that Weber had spent nearly $90 million of his money without ever receiving anything from the investments. Despite a lengthy and expensive court battle, Joel was only able to get back $8 million of the lost funds. Needless to say, those family ties were severed for good!
#1 – Steven Spielberg
Known as one of the pioneers of New Hollywood, Steven Spielberg is the most memorable director of all time with a career that spans over four decades. With an astonishing net worth of $3 billion, Spielberg is not only the highest grossing director in history, he’s also the most talented. The co-founder of DreamWorks Studios, Spielberg is behind some of the biggest films of all time including Indiana Jones, Saving Private Ryan, Schindler’s List, E.T., Jaws and Jurassic Park.
But, unfortunately not even Hollywood’s most talented director could avoid Bernie Madoff’s Ponzi scheme. Spielberg entrusted some of his personal wealth with Madoff as well as most of the funds from his charity, the Wunderkinder Foundation. As the scheme unraveled, the Foundation’s funds were completely obliterated, leaving Spielberg no other choice but to close the Foundation that had formerly supported everything from the arts to war memorials.
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