Detroit Riverfront ex-CFO says $3K monthly allowance isn't enough as assets remain frozen

Category: Legal News

William Smith, the ex-CFO of the Detroit Riverfront Conservancy, has been granted $3,421 per month for living expenses while facing charges of embezzling $40 million from the nonprofit. His assets remain frozen, and he is accused of using stolen funds to support a lavish lifestyle. The court order allows for future adjustments to the allowance based on needs. Smith owns multiple properties and a yacht, and has been charged with wire and bank fraud.

Keywords: William Smith, Detroit Riverfront Conservancy, embezzlement

Source: Detroit Free Press

Update At: 7/24/2024

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