Madoff was sentenced last month for overseeing a $65 billion Ponzi fraud and his legal representative Ira Sorkin confirmed yesterday (July 8th) that he will not be taking up his right to put the case before the US Court of Appeals.
"We are not going to be appealing," Mr Sorkin stated.
According to CNN, Mr Sorkin met Madoff at the Metropolitan Correctional Center in Lower Manhattan, New York, earlier this week.
"Even if the Court of Appeals sends it back, certainly a guidelines sentence under the circumstances would give him a life sentence," he told the news source.
Madoff has been stripped of all his assets following his conviction for committing what was the biggest fraud scandal ever seen in the US.
The Associated Press reported earlier this month that at least a further ten people are to be charged by federal prosecutors for their alleged roles in the crime.