With famous Ponzi scheme operator and former most-hated person in America (usurped by Casey Anthony) Bernie Madoff currently clothed in more…utilitarian attire, it only makes sense that his former threads should go to use. I mean, he definitely doesn’t need them anymore.

Fashion company Frederick James, makers of “fashion iPad covers made out of luxury rescued and vintage fabrics” is making use of Madoff’s old clothing – his pants to be exacts.

According to their website, Frederick James obtained a “limited number of personal clothing items” that once belonged to Madoff at an auction put together by the U.S. Marshall’s office. From those clothing items they developed the Bernie Madoff Collection, a limited edition run of iPad covers made out of his various types of pants.

Take for instance the Mason’s Off-White Khaki Pants cover (the left one on the lead image). The cover retails for $350 and is described like this –

This cover is made from a pair of Mason’s men’s size 50 casual pants. They are an off-white cover. They are lined in navy blue linen.

Only 4 iPad covers were produced from this pair of pants. Each cover is unique. Two of the covers have the original pockets from the pants.

The other unique cover above is the Ralph Lauren Polo Chino Blue Pants cover. It also had a price tag of $350 but it’s sold out. It is made from size 35×30 pants, which means they must be from a much slimmer period in Madoff’s life. They only produced 4 of those as well. This truly is limited edition stuff.

As you can see, at one point Frederick James was offering 4 different pants-covers. The only two still listed on the site are the blue and gray ones. With the blue Chino cover sold out, that means your last chance to own this piece of history is with the off-white khakis cover.

I wonder what other fashion treasures they pulled from that auction. Will we see more Madoff-inspired device accessories?

As odd as they are, these are only the second strangest iDevice cases I’ve seen this month. If you want to see first place, check out the iPhone human hand case we told you about last week.