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.

Madoff, 71, was sentenced last week after admitting fleecing thousands of investors out of billions of dollars — an epic scheme that spanned the globe.