6 days ago
Former Detroit Riverfront Conservancy CFO denied request for more time before reporting to jail
The former CFO of the Detroit Riverfront Conservancy, who was sentenced for embezzling $40 million, was denied a request to extend his time out of jail before surrendering.
U.S. District Court Judge Susan DeClercq denied William Smith's request on Monday, requiring him to report to jail on Tuesday.
Court documents showed that Smith cited medical treatment as the reason behind the request. However, DeClercq wrote that the court had already extended Smith's report date by 60 days to receive treatment.
Smith was sentenced in April 2025 to 19 years in prison, followed by three years' supervised release. He pleaded guilty in November 2024 to one count of wire fraud and one count of money laundering. As part of his plea agreement, he agreed to pay at least $44.3 million in restitution. Smith served as the Conservancy's CFO from 2011 until he was fired in May amid an FBI investigation.
Federal prosecutors previously said Smith used the money "to live a deeply immoderate lifestyle," including purchasing real estate, clothes, jewelry, and a 35-foot boat and leasing a $200,000 Mercedes-Benz. Court records showed that Smith wire-transferred some of the money into multiple accounts he owned.
The money funded multiple trips, including a yacht for a Mediterranean cruise and a private jet to travel to Las Vegas, according to prosecutors. Smith also leased a Maserati for a woman he was romantically involved with and sent her $3.7 million. Additionally, he attended a Detroit Lions game at the Los Angeles Rams' SoFi Stadium, renting a private suite for $29,000, according to court documents.
Matthew Cullen, chairman of the Conservancy, said, "From the moment the Board discovered his complex embezzlement scheme, the Detroit Riverfront Conservancy team promised to assist in Smith's prosecution; to reorganize and reform its internal operations; and to push forward with its plans to create the world's most dynamic and inclusive Riverwalk – 5.5 miles of perpetual public access along the Detroit River."
In a statement, Matthew Schneider, attorney for the Conservancy, said, "William Smith is where he belongs – in prison. He stole from a civic treasure belonging to all Michiganders, the revitalized Detroit riverfront, and now he will be held accountable."
Note: The video above previously aired on April 24, 2025.
