A New York law firm filed papers in bankruptcy court Wednesday, requesting that Bernie Madoff trustee, Irving Picard, resign.
The court document alleges that Picard failed to disclose information about Madoff associate Norman Levy's role in the scheme.
According to the Wall Street Journal, "The firm on Wednesday alleged the trustee deliberately concealed information about Levy's 'criminal activities in order to improperly obtain the court's approval for a sweetheart deal for the Levy heirs.'"
Attorney Helen Davis Chaitman, who cited Picard, has requested that the Securities Investor Protection Corporation bring in a special investigator to find out what is going on.
The Mets are being sued by Picard for $1 billion. Picard claims Mets owners Fred Wilpon and Saul Katz were aware, or should have been aware, of the Ponzi scheme, and failed to do anything, resulting in millions in fictitious profits.
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