Federal judge extends deadline for investigation into former Detroit CFO

DETROIT – A federal judge has extended a deadline for prosecutors to investigate the former Detroit Riverfront Conservancy CFO William Smith.

According to a court filing, the extension allows negotiations to continue for a possible plea deal.

Smith is accused of stealing nearly $40 million from the non-profit in a scheme that dates back to 2012.

Investigators say he used the money for airline tickets, hotels, limos, clothes, and luxury goods.

Last month, the Conservancy sued him, his mother, wife, sister, and the best man at his wedding.

Smith faces federal criminal charges and remains free on bail with a GPS tether.

The deadline for when prosecutors must obtain an indictment is Sept. 26.