Former Riverfront CFO starts 19-year sentence for $40M theft
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Former Detroit Riverfront Conservancy CFO William Smith was taken into federal custody this week at a low-security facility in Milan after losing a bid to delay his imprisonment a second time.
State of play: Smith has begun serving a 19-year sentence for stealing more than $40 million from the nonprofit conservancy over the course of more than a decade.
- Smith, 52, pleaded guilty in November to wire fraud and money laundering and was ordered to pay about $48 million in restitution.
The latest: The Federal Bureau of Prisons confirmed Smith's incarceration in Milan in an email to Axios on Tuesday.
- The day before, a federal judge denied Smith's request to further extend his Aug. 12 self-surrender date "for a reasonable period of time" so he could receive and recover from medical treatment, court records show.
Between the lines: The court rejected Smith's request because it had already extended his original prison report date of June 12 by 60 days for medical treatment.
- Smith can get additional treatment through the Bureau of Prisons, U.S. District Judge Susan K. DeClercq wrote in her denial.
What they're saying: "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," conservancy attorney Matthew Schneider said in a statement.