Detroit Evening Report: Former Detroit Riverfront Conservancy CFO sentenced for embezzling over $40M
Ex-Detroit Riverfront Conservancy CFO William Smith was sentenced to 19 years in prison on Thursday for embezzling more than $40 million from the nonprofit over an 11-year period.
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Smith, 52, was employed as the Conservancy’s chief financial officer from 2011 through May 2024. Throughout the majority of his time in the role, Smith orchestrated various schemes to embezzle millions of dollars in funds from the organization, according to court documents.
The Conservancy funds — which are provided to the organization through private donors and public grants — were used by Smith to live a lavish lifestyle, spending enormous amounts of money on luxury items like designer clothing, jewelry, cruises, private jet travel and more.
Smith pleaded guilty in November to one count of wire fraud and one count of money laundering. In addition to the 19-year sentence, U.S. District Court Judge Susan DeClercq ordered Smith to pay back around $48 million in restitution.
Smith will remain free on bond for now, before reporting to prison at a later date.
–WDET’s Jenny Sherman contributed to this report.
Other headlines for Thursday, April 24, 2025:
- Detroit will soon be the headquarters for the tech startup Churchspace. Nicknamed the “Airbnb for Churches,” the company provides a platform for churches to rent out their spaces and facilities for supplemental income. Churches interested in learning more can attend Churchspaces’ informational event on May 30.
- The city of Dearborn unveiled its second inclusive playscape at Ford Woods Park, located at 5700 Greenfield Rd.
- The Detroit Alumnae Chapter of Delta Sigma Theta Sorority is hosting their 41st annual Art Auction Benefit “Canvas and Couture” from 3-6 p.m. this Sunday at the Detroit Delta Headquarters, 24760 West Seven Mile Rd., Detroit. The benefit showcases the works of local artists in various mediums.
- Detroit Fashion Revolution Week is wrapping up this weekend with several events.
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