William Smith, the former chief financial officer of the Detroit Riverfront Conservancy, pleaded guilty to stealing at least $44 million from the nonprofit organization. Smith's fraudulent activities, which spanned several years, involved using the misappropriated funds to finance a lavish lifestyle that included luxury travel, private jets, jewelry, and expensive clothing. As part of his plea agreement, he has also agreed to pay $44.3 million in restitution. The theft has significantly impacted the nonprofit, causing delays in major projects aimed at redeveloping Detroit's riverfront. This case is noted as one of the largest financial fraud schemes in the city's history, with Smith's actions leading to a broader investigation into financial misconduct within nonprofit organizations.