NEW YORK — Bernard Madoff's lawyers are appealing a judge's decision to revoke his $10 million bail and send him to jail to await sentencing. Madoff pleaded guilty Thursday to 11 felony counts including securities fraud and was immediately jailed. His lawyers filed papers with a federal appeals court Friday. The court papers were not immediately available.
Bail was revoked after the 70-year-old financier confessed to carrying out what may be the biggest fraud in Wall Street history. Madoff told U.S. District Judge Denny Chin that he was "deeply sorry and ashamed."
Sentencing is June 16. Madoff is facing up to 150 years, plus fines and mandatory restitution.