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Fired Detroit Riverfront CFO Charged with Embezzling $40 Million from Nonprofit

Jun 5, 2024 | 2:54 PM

Photo: Andrew Mullin ~ 760 WJR

DETROIT, June 5, 2024 ~ Fired Detroit Riverfront Conservancy CFO William Smith has been charged with embezzling $40 million from the nonprofit, federal prosecutors said.

On Wednesday, charges of bank and wire fraud against Smith were unveiled by authorities, linking to a scheme that has been going on for years. Smith, a Novi resident, is accused of using nonprofit money to fund a lavish lifestyle, including airline tickets, hotels, limousines, household goods, and jewelry.

PODCAST:

June 5, 2024 ~ More than $40 million has gone missing from the Detroit Riverfront Conservancy, and now the organization is looking to take legal action against its former CFO. Guy Gordon and Jamie Edmonds talk with Detroit News politics editor Chad Livengood about how this scheme went uncovered for so long.

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