Ex-Detroit Riverfront CFO Charged with $40M Embezzlement
TL;DR Summary
William Smith, the former CFO of the Detroit Riverfront Conservancy, has been accused of embezzling nearly $40 million over a 13-year period. Federal prosecutors allege Smith used the funds for personal expenses, including luxury items and travel, and concealed the fraud through altered documents and unauthorized transactions. Smith has been charged with bank and wire fraud and released on a $10,000 unsecured bond. The case highlights one of the largest fraud schemes in recent Detroit history.
Topics:nation#crime#detroit-riverfront-conservancy#embezzlement#federal-investigation#fraud#william-smith
- Feds: Detroit Riverfront CFO William Smith stole $40M during years-long scheme Detroit News
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- Detroit Nonprofit CFO Accused of Stealing $40 Million The New York Times
- Former Detroit Riverfront Conservancy CFO federally charged, accused of stealing millions WDIV ClickOnDetroit
- Key figure at Detroit riverfront nonprofit charged with embezzling millions The Associated Press
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