Former Detroit Conservancy CFO's Plea Hearing Delayed

Former Detroit Riverfront Conservancy CFO William A. Smith's expected guilty plea hearing was unexpectedly delayed in federal court, creating uncertainty in a case where he allegedly embezzled between $25 million and $65 million from the nonprofit over 12 years. His attorney cited an undisclosed issue with the plea agreement, prompting a recess during the proceedings. The government has been actively pursuing Smith's assets, including seizing over $100,000 and placing a lien on his wife's house. Smith faces charges of wire fraud and money laundering, which could lead to a maximum sentence of 20 years in prison. The U.S. Attorney's Office has estimated that restitution could exceed $44.3 million, reflecting the scale of the alleged theft. Conservancy officials expressed disappointment over the delay and remain hopeful for a resolution soon.