Madoff not to appeal against 150-year sentence for fraud

DISGRACED financier Bernard Madoff will not appeal against his 150-year jail sentence for fraud.

The fraud emerged last December when former Nasdaq chief Madoff confessed to his sons that nearly $65 billion (€47bn) he promised investors was safe was only worth a few hundred million.

“We won’t be appealing the sentence,” Madoff’s lawyer, Ira Sorkin, said. He would not say why the decision was made.