Major Detroit nonprofit theft case trial delayed indefinitely

DETROIT, Michigan: A man accused of embezzling more than US$40 million from the Detroit Riverfront Conservancy unexpectedly postponed his guilty plea during a court hearing.

William Smith, who managed the nonprofit's finances for several years, had been set to admit guilt to wire fraud and money laundering charges. As part of the plea agreement, a prosecutor detailed that Smith could face over 15 years in prison.

However, after a brief recess and private discussions between both legal teams, Smith's attorney, Gerald Evelyn, requested more time, halting the proceedings. Neither side explained the sudden delay and no new court date had been set.

Smith, 52, was arrested in June for allegedly siphoning millions from the Detroit Riverfront Conservancy to cover personal expenses, including travel, luxury goods, and jewelry. U.S. Attorney Dawn Ison previously described the theft as "astonishing in scale."

Before the proceedings were halted, Assistant U.S. Attorney John Neal stated that Smith and his defense team had agreed that the amount stolen totaled at least $44.3 million, with the potential for even higher losses.

The Detroit Riverfront Conservancy's mission is to revitalize miles of Detroit River shoreline for public recreation. Its board includes notable figures from Michigan's business and political sectors.