Detroit Riverfront Conservancy’s CFO has been placed on leave pending a financial investigation

(WXYZ) — The Detroit Riverfront Conservancy’s chief financial officer has been placed on leave while a financial investigation is underway, according to the conservancy’s chairman.

William Smith is listed as CFO on the Detroit Riverfront Conservancy website.

Matt Cullen, board chairman, said in a statement that he was “concerned about the accuracy of the management reports and financial reports provided to the Detroit Riverfront Conservancy board.”

Cullen said after speaking with the board, they ordered an independent forensic audit by PwC and contacted Honigman law firm.

“At Honigman’s recommendation, we placed the Conservancy’s chief financial officer on leave. We also forwarded financial records to the Michigan State Police and requested a criminal investigation. While this investigation is ongoing, I will step in to monitor the Conservancy’s operations,” Cullen said in a statement.

He added that the project is moving forward and that “we owe it to our donors, other key stakeholders and the entire Detroit community to be transparent and accountable in this situation – and that’s exactly what we will be.”

The mission of the Detroit Riverfront Conservancy is to improve access to the Detroit International Riverfront.