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Published -
- January 8, 2022
- 10:44 am
The idea of being a famous Hollywood actor is an appealing one: who wouldn’t want to be beloved by millions fans while simultaneously raking in millions of dollars?
But when you live your life in the spotlight, it’s easy to become the target of unscrupulous individuals.
So what happens when a rich and famous actor gets swindled by someone they trust, be it a financial advisor or a close relative? From Bernie Madoff’s infamous Ponzi scheme victims to the Oscar winner who was defrauded by his own business manager, these are some of the actors who were scammed out of millions.
What are some common types of financial scams that actors should be aware of?
As the entertainment industry continues to evolve, the competition among actors and actresses is becoming fiercer. It is no longer enough to be a talented performer as one must also be vigilant in navigating the murky waters of the entertainment world. Unfortunately, some actors have fallen victim to scams that have left them with empty pockets despite their years of hard work and dedication.
One of the most notable cases of an actor being scammed is that of Kevin Bacon. Bacon, who starred in blockbuster films such as Footloose and A Few Good Men, was defrauded by his own financial advisor, who stole nearly $18 million from his accounts over the course of several years. The advisor was eventually caught and sentenced to 20 years in prison, but the damage was done, and Bacon’s bank accounts were drained.
Another celebrity who was scammed out of millions is Gary Coleman, who gained fame for his role in the hit sitcom, Diff’rent Strokes. While Coleman was still a teenager, his parents mismanaged his finances and ultimately led him to bankruptcy. After the show ended, Coleman struggled to find work and experienced several financial troubles, including an incident in which he was scammed by a fake lawyer who stole over $200,000 from him.
Actor Shannen Doherty, who starred in the television series Beverly Hills 90210, was also scammed out of millions by her business manager, who forged her signature on documents and embezzled money from her accounts. Over the course of several years, Doherty lost nearly $6.8 million, and her credit rating was also negatively affected.
These are only a few examples of actors who have been scammed out of millions of dollars. The stories of others like Nicholas Cage, Wesley Snipes, and Jackie Chan are no less tragic. The common thread among these cases is that most of them could have been avoided with better financial management and caution in entrusting one’s finances to others.
In conclusion, it is important for actors and other celebrities to be educated on financial management and to seek out trustworthy advisors. While the entertainment industry can be a lucrative one, it can also be a breeding ground for scams and fraud. By taking steps to protect their finances, actors can ensure that their hard-earned money is safe and secure.
