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Plea deal possible for Detroit Riverfront Conservancy’s ex-CFO in $40M embezzlement scheme

Posted on AllSides June 17th, 2024
From The Center

DETROIT – A plea deal could be in the works for the former CFO of the Detroit Riverfront Conservancy, William Smith. Smith was charged with stealing $40 million from the nonprofit in a decade-long embezzlement scheme. Federal prosecutors charged the former CFO of the Detroit Riverfront Conservancy with bank and wire fraud after reportedly stealing over $40 million from the nonprofit. Money investigators say he used it for airline tickets, hotels, linos, clothes, luxury goods, and more. The 51-year-old is out on a GPS tether. Court paperwork says Smith’s attorneys...

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