Detroit Riverfront CFO under FBI probe after internal review finds ‘financial wrongdoing’

DETROIT – The FBI has taken over the investigation into suspected “financial wrongdoing” by the chief financial officer of the Detroit Riverfront Conservancy, WDIV Local 4 reports.

The conservancy is a nonprofit responsible for the management of the Detroit RiverWalk and associated greenspaces. The area is widely considered to be the face of the city.

Last week, the conservancy board requested a criminal investigation and turned over evidence to the Michigan State Police, the TV station reports. The request was prompted by an independent audit and review of financial statements.

On Tuesday, MSP turned over the investigation to the FBI “due to the nature and complexity of the situation,” Matt Cullen, board chair for the Detroit Riverfront Conservancy, said in a statement.

CFO William Smith has been placed on unpaid leave and an outside firm has been hired to oversee the nonprofit’s financials, he said.

“The riverfront is a beloved and important asset to the community, and we are committed to building a vibrant space for all metro Detroiters to enjoy,” Cullen said. “As soon as we can, the Conservancy will share with the public and its many stakeholders exactly what happened, how it happened, and our full plans for moving forward.”