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Bernard and Ruth Madoff

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Madoff Won't Appeal Conviction

Ponzi Scheme

Updated: Monday, 03 Aug 2009, 8:19 PM EDT
Published : Thursday, 09 Jul 2009, 12:15 PM EDT

    Disgraced financier Bernard Madoff has decided against appealing his 150-year sentence for a multi-billion dollar fraud.

    Madoff's lawyer, Ira Sorkin, said Thursday that there will be no appeal of the sentence. He declined to say why the decision was made.

    Madoff was sentenced last week. He pleaded guilty to charges that he bilked thousands of investors out of billions of dollars.
     

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