LYNN – An investigation has been launched into allegations that Fire Department property was wrongfully disposed of, perhaps for profit.Fire Chief James Carritte confirmed only that the department is conducting a probe into allegations that an aluminum ladder was not properly discarded after it was deemed no longer useful for firefighting.”I can only say that we are looking into what happened to certain Fire Department property once it was taken out of service,” the chief said Thursday.The Item was told a member of the Fire Department took the obsolete ladder, sold it as scrap to a local metal shop, and kept the money.The investigation is one of at least two ongoing within the department. According to Carritte, an in-house administrative proceeding involving Fire Lt. Matthew Reddy, president of Lynn Local 739 of the International Association of Fire Fighters (IAFF), is still under way.Although Carritte did not name Reddy as the focus of the investigation, he described the charge as “very serious.”Reddy received a letter from Carritte dated July 8, informing him of the charges, which included allegations that the union president “harassed and attempted to intimidate an employee of this department.”According to the letter, of which The Item obtained a copy, the chief ordered Reddy to keep away from Lt. Thomas Bogart.Meanwhile, Lynn firefighter Michael Ortiz , under investigation for violating the city’s employee residency requirement, was put back on the payroll Wednesday and officially rejoined the ranks. Ortiz had been on a leave of absence, Carritte said.The city Residency Compliance Commission is awaiting the court outcome of an assault-and-battery case against Ortiz, a proceeding that could take months to complete. Ortiz was arrested after his former girlfriend told police the firefighter falsely claimed to live with her in Lynn in order to comply with the residency requirement.Ortiz had been found seven months ago to be living with his wife in Medford and was required to move into Lynn or lose his job.