Former riverfront CFO's plea hearing postponed
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Former Detroit Riverfront Conservancy CFO William Smith leaves federal court yesterday. Photo: Joe Guillen/Axios
An expected guilty plea from former Detroit Riverfront Conservancy CFO William A. Smith seemed imminent in federal court Monday, but the hearing was suddenly postponed with little explanation.
The big picture: The courtroom complication introduced new uncertainty to Smith's case, in which prosecutors say he stole more than $40 million from the nonprofit conservancy over a decade.
- Some in attendance were surprised by the delay in Smith's case. His guilty plea had been expected for nearly a month.
- U.S. District Judge Susan K. DeClercq said the hearing would be rescheduled, without setting an immediate date.
What they're saying: Detroit Riverfront Conservancy officials were expecting a resolution.
- "We are disappointed that today did not meet our expectations of a guilty plea, and we look forward to this being resolved in the near future," conservancy CEO Ryan Sullivan said in a statement, adding that the conservancy is thankful to the U.S. attorney's office for its efforts.
The other side: U.S. Attorney John Neal declined to comment outside the federal courthouse on Fort Street.
- Smith's attorney, Gerald Evelyn, could not be reached for comment.
Between the lines: Monday's hearing had proceeded as expected before the sudden interruption.
- Smith, wearing a dark-colored suit and speaking softly, answered, "Yes, your honor," to several of the judge's questions about his understanding of the plea agreement.
- But after prosecutors reviewed the agreement in court, Evelyn said an issue emerged with the deal, and they could not proceed.
Catch up quick: The government seized more than $100,000 from Smith and issued a lien on his wife's house to apply pressure ahead of yesterday's hearing, the Detroit News reports.
- Prosecutors and the FBI have been searching for Smith's assets, which include his Novi home (which was raided), a condo in Mexico, a yacht, rental properties, and a house in Atlanta, per the News.
The latest: After the appearance in court, Smith, 52, said nothing as he walked briskly into an SUV parked at the curb outside of court.
What's next: We're waiting to find out the date of the rescheduled hearing.