Man pleads guilty to stealing millions from large Detroit nonprofit | News, Sports, Work

DETROIT (AP) — A man accused of stealing $44 million from a Detroit nonprofit group pleaded guilty Friday to financial crimes that stunned the organization and caused some delays in a major riverfront project.

For years, William Smith has overseen the money at the Detroit Riverfront Conservancy, which transforms miles of waterfront along the Detroit River into a recreation area with plazas, pavilions and parks.

“We are pleased to see that Will Smith has begun to be held accountable for his reprehensible actions,” said executive director Ryan Sullivan.

Smith, 52, was arrested in June. Investigators said the chief financial officer regularly used money from the Riverfront Conservancy for travel, hotels, limousines, home goods, clothing and jewelry. He had additional gigs in real estate, a nightclub and amateur basketball.

Smith pleaded guilty to wire fraud and money laundering during an appearance in Detroit federal court, admitting the group’s losses totaled at least $44 million. He could face more than 15 years in prison when he returns to court in March.

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