USA Swimming CFO Cory Hilliard Arrested; Charged on Three Counts, Including Theft and Embezzlement
Cory Hilliard, USA Swimming’s Chief Financial Officer (CFO), was arrested on Monday morning and charged with three counts related to the misappropriation of funds during his tenure at the University of Colorado Boulder. Hilliard was hired as CFO of USA Swimming in December, taking the position after working for the University of Colorado for 18 years, including as Senior Associate Athletic Director for Business Operations/CFO.
An internal audit and investigations by the University of Colorado led to the University of Colorado Boulder Police Department conducting a criminal investigation into Hilliard, who is alleged to have misappropriated $9,510.50 while with the school. A press release from the Boulder County District Attorney’s Office states:
“The University of Colorado Boulder investigation revealed that between 2021 and 2025, Hilliard misappropriated University‑provided Nike Elite funds for his personal use, which is a violation of the agreement. The University of Colorado Boulder conducted a detailed review that included financial records, interviews with Athletics Department personnel, and analysis of transaction histories associated with Hilliard’s Nike Elite account. Ultimately, the investigation determined that Hilliard’s actions resulted in a confirmed loss of $9,510.50 to the University.”
USA Swimming responded to the arrest on Monday morning with its own statement. The organization is serving as host of the Pan Pacific Championships, which got underway on Monday with open-water swimming in Long Beach, California. The pool competition will be held from Aug. 12-15 in Irvine, California.
“This morning, we became aware that Cory Hilliard was arrested on charges of financial impropriety related to his time with the University of Colorado Boulder Athletic Department,” USA Swimming said in a statement provided to Swimming World. “We immediately placed Cory on leave and terminated all access to any company data and financial controls. We are now conducting an investigation.”
- Count One: Theft (F5)
- Count Two: Embezzlement of Public Property (F5)
- Count Three: First Degree Official Misconduct (M1)
According to the press release from the Boulder County District Attorney’s Office, on July 22, 2025, Colorado Boulder Athletic Director Rick George notified the the university’s Department of Internal Audits of concerns of potential fiscal misconduct by Hillard.