$40,000,000+ Part II: Red flags

From The Freep: "Red flags about ex-Detroit Conservancy CFO show up in court records"…

Federal prosecutors charged William Smith, the ousted CFO of the Conservancy, on Wednesday with bank and wire fraud, alleging the 51-year-old's scheme there went unchecked for more than 11 years while he falsified bank statements, made unauthorized wire transfers to his company and paid his credit card bills with Conservancy money.

While that scheme allegedly played out, court records show Smith was losing hundreds of thousands of dollars in private investments with a business partner who would later be indicted by the U.S. Attorney in Detroit, in deals involving franchise restaurants in the area, including Which Wich sandwich shops and a pizzeria chain called Pie Five.

In 2019, a grand jury indicted Smith's partner, John Draper II, on two counts of wire fraud, with federal prosecutors accusing him of defrauding investors, including parents of his children’s classmates at Detroit Country Day School in suburban Detroit.

Certainly To Be Continued…

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A lot of people don't realize what's really going on. They view life as a bunch of unconnected incidents and things. They don't realize that there's this, like, lattice of coincidence that lays on top of everything.
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