Back in June, possessions belonging to the notorious Ponzi-schemer Bernie Madoff were auctioned off, with the proceeds going towards his victims. Among the books, chairs, and Rolex watches were his pricey clothes, many of which were purchased by entrepreneur John Vaccaro, who has turned Madoff's cashmere sweaters and designer pants into iPad cases.

Selling under the Frederick James label, the covers go for $250 to $500. He's already sold several cases made of the sweaters, but you can still get those recycled from Madoff's Ralph Lauren, J. Crew, and Banana Republic pants.

Vaccaro says he wouldn't have done this with the clothes of, say, Marilyn Monroe, but when it came to Bernie Madoff, "people were pleased to see his designer clothing cut up in shreds."

[via Gizmodo]