Ponzi suspect Freeman surfaces at court hearing

TERRY Freeman, the City trader suspected of running a £40m Madoff-style Ponzi fraud, was forced to come out of hiding to attend a bail hearing yesterday.

Freeman, 61, was remanded on conditional bail to appear at City of London Magistrate’s court again on 28 October.

The former foreign exchange trader was arrested at his house in Bruckhurst Hill, Essex, in February on suspicion of money laundering and market offences.

He then abandoned the Essex home, where he lived with his 30-year old Russian wife Yegana, and went into hiding.

The arrest came after the firm he set up, GFX Capital Markets, collapsed last autumn after failing to keep pace with investor requests to withdraw money.