USA SWIMMING CFO ARRESTED ON THEFT AND EMBEZZLEMENT CHARGES

Cory Hilliard, Chief Financial Officer of USA Swimming, was arrested on 10 August 2026 by Boulder County authorities in Colorado. He was charged with theft, embezzlement of public property, and first-degree official misconduct. The charges relate to his previous employment at the University of Colorado Boulder, where he served as Senior Associate Athletic Director for Business Operations and CFO before joining USA Swimming in December 2025.

According to the Boulder County District Attorney's Office, the alleged misconduct occurred between 2021 and 2025 whilst Hilliard administered the university's Nike Elite programme, which distributes employee product benefits. He is alleged to have used the Nike Elite fund for personal benefit, resulting in a reported loss of $9,510.50 to the university. An initial report of potential fiscal misconduct was made on 22 July 2025 by CU Boulder Athletic Director Rick George to the university's Department of Internal Audit. A subsequent self-audit examined financial statements and transactions associated with Hilliard's Nike Elite account, followed by a criminal investigation conducted by CU Boulder Police Department and the Boulder County District Attorney's Office.

The two felony charges—theft and embezzlement—carry potential prison time and financial penalties under Colorado law. The first-degree official misconduct charge is classified as a Class 1 misdemeanour. USA Swimming placed Hilliard on leave following his arrest. Hilliard had overseen financial operations and a budget exceeding $135 million during his 18 years at the University of Colorado Boulder before his appointment to USA Swimming.