### Former CFO Faces Over 15 Years for Embezzling $44 Million from Detroit Nonprofit

A substantial theft by a high-ranking official known for overseeing finances at the Detroit Riverfront Conservancy has come to a head as William Smith, 52, pleads guilty to wire fraud and money laundering. Smith, who was entrusted with the financial stewardship of the nonprofit group, misappropriated a staggering $44 million, leading to significant organizational disruptions and project delays.

Smith, who managed the Conservancy's funds for many years, was apprehended in June. His financial misdemeanors included using the nonprofit's money for personal luxuries such as travel, hotels, limousines, household goods, clothing, and jewelry. Additionally, Smith indulged in various side ventures, including real estate, a nightclub, and amateur basketball, according to investigators.

His plea, entered during a court appearance in Detroit, marks the beginning of a process to hold him accountable for his actions. "We are pleased to see Will Smith begin to be held accountable for his disgraceful actions," stated Chief Executive Ryan Sullivan.

The Detroit Riverfront Conservancy, a prominent organization dedicated to transforming the city's riverfront into recreation spaces with plazas, pavilions, and parks, has been significantly impacted by Smith's fraudulent activities. The theft has compelled the group to delay certain aspects of its riverwalk project, a setback for an initiative that has the backing of influential figures in Michigan's business and governmental circles.

Cheyvoryea Gibson, who heads the FBI in Detroit, remarked on the breach of trust caused by Smith's decades-long deceit, "Mr. Smith's deceitful actions, which spanned for more than a decade, not only broke the trust of his employer but the entire community."

Smith is expected to face more than 15 years in prison when he is sentenced in March, bringing a measure of justice to the Detroit Riverfront Conservancy and the community it serves.