USA Swimming CFO Cory Hilliard Placed on Leave Following Arrest for Theft and Embezzlement
USA Swimming placed Chief Financial Officer Cory Hilliard on leave on Monday following his arrest in Colorado on charges of theft, embezzlement of public property, and first-degree official misconduct, stemming from alleged financial misappropriation within the University of Colorado athletic department.
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Unraveling the Charges: The University of Colorado Investigation
According to the Boulder County District Attorney’s Office, 54-year-old Cory Hilliard faces three specific counts: Count One for theft, Count Two for embezzlement of public property, and Count Three for first-degree official misconduct. The criminal investigation, executed by the University of Colorado Boulder Police Department, followed an internal audit initiated after Athletic Director Rick George notified the university’s Department of Internal Audits regarding potential fiscal misconduct on July 22, 2025, as reported by Swimming World Magazine.
Investigators determined that between 2021 and 2025, Hilliard misappropriated funds tied to the school’s Nike Elite program for personal use. Hilliard had been responsible for managing employee product benefits within the program during his 18-year tenure with the university, which culminated in his role as Senior Associate Athletic Director for Business Operations/CFO. The financial review, which involved examining transaction histories and interviewing athletic department personnel, established a confirmed loss of $9,510.50 to the university.
Corporate Response and Leadership Turmoil at USA Swimming
USA Swimming reacted swiftly to the development. In a statement provided to FOX 5 Atlanta, the national governing body confirmed that it learned of the arrest on Monday morning and “immediately placed Cory on leave and terminated all access to any company data and financial controls” while initiating an independent internal investigation.
Boulder County District Attorney Michael Dougherty emphasized the necessity of accountability in public sector and university positions, stating via FOX 5 Atlanta, “In any case involving possible Official Misconduct, the community trust requires a thorough investigation. So, I truly appreciate the hard work, dedication, and collaboration of the CU Police Department.”
| Metric / Detail | Recorded Fact |
|---|---|
| Target Individual | Cory Hilliard (Age 54) |
| Charges Filed | Theft (F5), Embezzlement of Public Property (F5), First Degree Official Misconduct (M1) |
| Confirmed Financial Loss | $9,510.50 |
| Involved Program | University of Colorado Boulder Nike Elite Program |
| USA Swimming Tenure Began | December |
Broader Organizational Context
Hilliard joined USA Swimming as CFO in December, entering the position shortly after Kevin Ring took over as Chief Executive Officer last September. At the time of his hiring, Ring praised Hilliard’s financial background, pointing to his operational expertise and commitment to transparency. Hilliard’s tenure at USA Swimming followed nearly two decades of financial management within collegiate athletics.
This personnel disruption arrives during a busy operational window for the federation. USA Swimming is currently serving as the host of the Pan Pacific Championships, with open-water events underway in Long Beach, California, and pool competitions scheduled in Irvine, California. The arrest also compounds a period of notable leadership transitions for the organization, which previously managed the departure of former CEO Chrissi Rawak following a complaint at the U.S. Center for SafeSport, as detailed by FOX 5 Atlanta. Hilliard did not immediately respond to requests for comment sent to his corporate email address.
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