Reported 4 months ago
William Smith, the former chief financial officer of Detroit Riverfront Conservancy, has been accused of embezzling $40 million to pay for personal expenses such as travel, hotels, limousines, and clothing. Smith was fired in May and charged with bank and wire fraud. The Riverfront Conservancy is known for transforming Detroit's riverfront into a popular attraction with the support of philanthropists. The board of directors expressed shock and a commitment to move forward despite the scandal.
Source: YAHOO