Have you always wanted an iPad case fashioned out of Bernie Madoff's old pants and sweaters? There is an entrepreneur for that. John Vacarro seized an opportunity to turn his luxury iPad case company into something a little more appealing to bankers last November. The New York Post reports:

Vaccaro's company, Frederick James, had already been making iPad covers out of cashmere, but when he heard about the Madoff auction last fall, the idea clicked. Spending "much more than I wanted to," he prevailed in bidding wars for all 16 pairs of Madoff's pants, which ranged from Polo Ralph Lauren and Murphy & Nye sailing pants to Banana Republic. 

"First I searched all the pockets to see if there were any $100 bills inside," he said. "Then I found a designer who could make the cases from the cut-up clothing, which was tricky."

Currently, Frederick James is offering nine unique cases on their website, all of them in solid pants-color on the outside and bright accents inside. The item descriptions detail the brand and style of each pair of pants and explain that the pants were purchased at the U.S. Marshals Service auction and belonged to Madoff, who's described as "an incarcerated American felon, former stockbroker, investment advisor, non-executive chairman of the NASDAQ stock market, and the admitted operator of what has been described as the largest Ponzi scheme in history."

Vacarro says that his first batch of cases "sold almost instantly, just by word of mouth" to bankers who wanted to give interesting Christmas gifts. And at $250 to $500 each, one can't help but wonder who else would be able to afford the "strictly for fashion purposes" iPad covers in this troubled economy. If you're able, though, act fast because Vacarro says he's only made 31 cases and is running out of pants. At least the cases look a little bit cooler than Mark by Mark Zuckerberg, a recently launched faux-fashion line that sells clothes in the style of the notoriously poorly dressed Facebook founder.