Published January 23, 2009
Larry King may want to put off buying any new suspenders.
The longtime host of CNN's "Larry King Live" lost over $1 million from investments he made with alleged Ponzi-scheme master Bernie Madoff, a source tells the New York Post.
"It was a lot of money," the insider told the newspaper.
If the reports are accurate, King would join a long list of high-profile investors, including married actors Kevin Bacon and Kyra Sedgwick, who were swindled out of investments totalling in the billions of dollars.
At least King, 75, has some experience with financial troubles to fall back on.
He declared bankruptcy in 1978, and 2006, he sued an insurance brokerage, saying he was cheated in conncetion with $15 million in life-insurance policies.
King also makes $7 million a year, so keep those violins in their cases for now.