In a plot twist befitting a Hollywood blockbuster, William Smith, the former CFO of the Detroit Riverfront Conservancy, has been charged with embezzling a staggering $40 million. While the Conservancy was busy transforming miles of the Detroit River shoreline into a haven for recreation, Smith was allegedly preoccupied with transforming his lifestyle into one of luxury fit for royalty.

Smith supposedly dipped into the Conservancy's funds to cover an array of personal indulgences, including airline tickets, hotels, limousines, household goods, clothing, and jewelry. It appears he took the concept of "living large" rather literally, redefining fiscal responsibility one extravagant purchase at a time.

Spanning from November 2012 to March 2024, the investigation paints a picture of sustained financial acrobatics. With the same finesse one might use to juggle flaming torches, Smith allegedly pulled off multiple financial feats that included opening an American Express Business Platinum Card without the Conservancy's knowledge, and taking out a $5 million line of credit from Citizens Bank using false representations.

The show reached its climax when the FBI raided Smith's Northville, Michigan home and his Conservancy office—twice. One can only imagine the bemused faces of the neighbors as government agents swarmed the presumably serene suburb.

Despite his alleged $40 million escapade, Smith was released on a $10,000 unsecured bond. Of course, with the court's order to refrain from entering into any new loan or credit transactions, it seems Smith’s days of financial juggling are, for the moment, over.

Adding to the perplexing saga is the revelation that Smith held sole control over the organization's Comerica Bank account and altered bank statements to, quite impressively, inflate available balances. Additionally, payments totaling $24.4 million were made from the Conservancy to Smith's company, the creatively named Joseph Group & Associates LLC.

Oh, and for those who might have thought Smith was struggling to make ends meet, think again. The man was earning a $242,000 salary as of 2022. Apparently, the paycheck just didn't stretch far enough for his discerning tastes.

The Conservancy’s woes were compounded when CEO Mark Wallace resigned in connection with the scandal, leaving a gaping hole in the upper echelons of the organization. Meanwhile, the Board Chair Matt Cullen and other board members were left dumbfounded by the brazen financial wrongdoing.

As the Detroit Riverfront Conservancy board sifts through the wreckage, the mission to transform the shore into a recreational paradise must march on. After all, not everyone can afford their own private paradise on the river's dime.