Ex Detroit Riverfront Conservancy CFO sentenced for embezzlement

Former Detroit Riverfront Conservancy CFO, William Smith, was sentenced to 19 years in federal prison for embezzling over $40 million from the nonprofit. Smith, who had exclusive access to the Conservancy's bank accounts, used funds for personal expenses and falsified financial records to conceal the fraud from 2012 to 2024. In addition to his prison term, Smith faces three years of supervised release and must pay at least $44.3 million in restitution. The Conservancy expressed satisfaction with the sentence and plans to continue legal efforts to recover the stolen assets.