THE MADOFF MESSTHE MADOFF MESSAs the list of Bernard Madoff's celebrity victims keeps growing--actors Kevin Bacon and his wife, Kyra Sedgwick Kyra Sedgwick (born August 19, 1965)[1] is an Emmy-nominated and Golden Globe Award-winning American actress. In 2007, Sedgwick won Best Actress for lead role in a dramatic TV series at the Golden Globes for her role in The Closer. , are among the latest--the trustee overseeing the liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy of Madoff's firm on Dec. 30 won permission from a judge to move ahead with a plan to sell off its assets. And there's a new twist to the alleged Ponzi scheme A fraudulent investment plan in which the investments of later investors are used to pay earlier investors, giving the appearance that the investments of the initial participants dramatically increase in value in a short amount of time. : Even investors who managed to redeem money years ago from hedge funds hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" that invested with Madoff may not be free and clear. Securities experts say it's likely the trustee will seek to recapture much of those redemptions. See PAGE 024 "The SEC's Madoff Misery" 
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