Ex-CFO of Detroit Riverfront Conservancy Charged With Embezzling $40 Million

Published on June 6, 2024

The former chief financial officer of the Detroit Riverfront Conservancy (DRFC) who was fired last month has been charged with bank fraud and wire fraud, according to a newly unsealed criminal complaint. William A. Smith—who served as the nonprofit’s CFO from 2011 until his ousting at the end of May—allegedly took part in a years-long scheme to embezzle Conservancy funds amounting to millions of dollars for his own use, the Department of Justice (DOJ) announced on Wednesday. The 51-year-old appeared in federal court Wednesday afternoon. According to its official website, the Detroit Riverfront Conservancy is a nonprofit organization that was formed for the “establishment, improvement, operation, maintenance, security, programming, and expansion” of public access to the Detroit International Riverfront from the Ambassador Bridge to Belle Isle....

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