All articles tagged with #detroit riverfront conservancy
William Smith, the former CFO of the Detroit Riverfront Conservancy, has been charged with embezzling $40 million from the organization, using the funds for personal expenses such as travel, hotels, and luxury items. The scandal has shocked the Conservancy's board and major donors, who are committed to overcoming the impact of the fraud.
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.