Larry King loses $1m in Madoff swindle
US talk show host Larry King has emerged as the latest victim of Bernie Madoff, the Wall Street financier alleged to have carried out a multi-billion-dollar fraud.
King is said to have lost more than $1 million after investing with the disgraced banker. Howard Rubenstein, a spokesman for the 75-year-old CNN presenter, declined to comment.
King, who declared bankruptcy in 1978, earns a reported $7 million a year for his show Larry King Live, according to the New York Post.
Madoff has been charged with fraud, using money from new investors to pay earlier ones. The alleged $50 billion swindle would be the largest in US history.
Madoff, 70, was arrested on 11 December and remains under house arrest in Manhattan on $10 million bail.
The former chairman of the Nasdaq stock market is accused of losing the investments of major banks, Hollywood stars, charities, schools and pensioners. Many lost their life savings.
King has emerged among a list of stars who were victims of the alleged fraud. Actor Kevin Bacon has already confirmed he and his actress wife Kyra Sedgwick were caught up in the alleged scam, as have director Steven Spielberg and his DreamWorks partner Jeffrey Katzenberg. Their Wunderkinder Foundation charity is said to have lost millions of dollars.
