An iPad case made from Madoff’s old clothes, yours for $500
Published 11/08/2011 | 09:05
An entrepreneur who bought disgraced Ponzi schemer, Bernie Madoff's clothes at auction has turned them into exclusive iPad covers.
And his fancy pants invention from the fraudster’s wardrobe has become the latest craze sweeping Wall Street.
John Vaccaro bought up most of Madoff's wardrobe at a US Marshals auction of his assets last year, then had them redesigned as iPad covers that sell for between $350-$500 on his website, Frederick James.
Vaccaro was already selling iPad cases made of cashmere but on hearing about the Madoff auction, decided to take his idea a step further.
The first five iPad cases, made from a navy blue Christian Dior sweater and a Bergdorf Goodman cardigan, "sold almost instantly, just by word of mouth," Vaccaro told The New York Post .
Vaccaro also took home 16 pairs of Madoff's trousers from the auction - all a size 35 or 36 inch waist - including several pairs from Madoff's country club, with ID labels bearing the villain's name.
"First I searched all the pockets to see if there were any $100 bills inside, then I found a designer who could make the cases from the cut-up clothing, which was tricky."
When a Wall Street lawyer wanted to give them as Christmas presents, Vaccaro realised he was onto something.
But if you're looking for a gift for the man who has everything, you better move fast because stocks are starting to run low.
"I've made 31 so far, and only have a few pairs of pants, sweaters and sweatshirts left," said Vaccaro.
But a word of warning to potential purchasers. Like Madoff's crooked financial schemes, these cases come with a health warning: "They are strictly for fashion purposes," he said. "If you drop it, it's going to crack."