Mark and Andrew Madoff teamed up with their cousin Shana Madoff Swanson in early 2007 to fund Madoff Energy LLC. After hiring geologists and other employees, they began financing oil and gas projects, including well drilling in Texas.
"Oil? Gas? Sure, why not? Our fly fishing expertise will doubtless provide great geological expertise given our extensive outdoor experience. The fishing travel would dovetail nicely with the survey trips. Plus, don't they use explosives for those surveys? Cool! Plus too, all those guys on TV you see who got wealthy from oil are like, really wealthy. Remember the Beverley Hillbillies? Those people were loaded. So loaded that everyone had to deal with their bullshit. Hell, we could even boss the Noel's around in Mustique! I mean, have you seen the price of oil lately? Shana, you run compliance, ready. You know about like filings and stuff, right? You could do the paperwork, right? Mark and I will be the... you know... brains. The research. The analysis. We'd go visit sites near fis- er, oil and gas deposits. Hey, how much does fish oil go for nowadays?"
Madoff's Sons, Niece Started Energy-Drilling Company [Bloomberg]