Accused Palmer Con Man Wants Lower Bail

Richard Freer, the Palmer Township man accused of running a $10 million Ponzi scheme, wants a judge to reduce his $10 million bail.

That's according to the Express-Times, which says Freer will go before a Northampton County judge Wednesday to seek the bail reduction.

Freer, 67, of Tatamy Road, has been in county prison since last Friday, when he was charged with multiple counts of theft and forgery for allegedly stealing money from dozens of local residents who thought they were investing in real estate.

Prosecutors say Freer, a former Lafayette Ambassador Bank president, used these investments for his personal use, or to pay back other investors. They say his scheme goes back to at least 2009 and continued through this summer, even as police froze his bank account.