Detroit Riverfront Nonprofit Sues Ex-CFO to Recoup Stolen $40M

A nonprofit that works to preserve public access to the Detroit Riverfront sued its former chief financial officer to recoup the nearly $40 million that authorities said he stole over more than a decade.

Detroit Riverfront Conservancy Inc. said in a lawsuit filed Wednesday in Wayne County, Mich.’s circuit court that William A. Smith falsified bank records, transferred some nonprofit money into his personal bank account, and used other money to pay off his and others’ credit card bills.

The conservancy also said Smith’s mother, sister, wife, and friend helped him “advance or cover up his scheme,” according to the ...