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Ex-Detroit Riverfront CFO Charged with $40M Embezzlement

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Source: The New York Times
Ex-Detroit Riverfront CFO Charged with $40M Embezzlement
Photo: The New York Times
TL;DR

The CFO of the Detroit Riverfront Conservancy, William A. Smith, has been charged with bank and wire fraud for allegedly embezzling nearly $40 million from the nonprofit, which aimed to revitalize Detroit's waterfront. Smith reportedly used the funds for personal luxury purchases, exploiting his exclusive control over the nonprofit's finances.

Topics:nationus#detroit#federal-charges#financial-crime#fraud#nonprofit#us
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  1. Detroit Nonprofit CFO Accused of Stealing $40 Million  The New York Times
  2. Feds: Detroit Riverfront CFO William Smith stole $40M during years-long scheme  Detroit News
  3. William Smith, Detroit Riverfront ex-CFO, facing federal fraud charges  Detroit Free Press
  4. Former Detroit Riverfront Conservancy CFO federally charged, accused of stealing millions  WDIV ClickOnDetroit
  5. Key figure at Detroit riverfront nonprofit charged with embezzling millions  The Associated Press

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