Cory Hilliard is the second recently-hired executive to plunge USA Swimming into scandal. Michael Reaves / Getty ImagesAug. 10, 2026 8:20 pm EDT Updated USA Swimming put CFO Cory Hilliard on leave Monday following his arrest on allegations he embezzled nearly $10,000 while working for the University of Colorado’s athletics program.Boulder police said in a statement announcing the arrest that the Boulder District Attorney’s Office has filed felony charges of theft and embezzlement of public property, as well as a misdemeanor charge of first-degree official misconduct.Hilliard served as the administrator of Colorado’s Nike Elite program from 2021 to 2025, managing funds from the sportswear giant’s program to provide high school athletes with mentorship and equipment.As part of his role, Hilliard was tasked with “managing employee product benefit allocations.” However, investigators allege Hilliard stole $9,510.50 for his personal use, a violation that Colorado’s athletics program uncovered through an internal 2025 audit.
“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 to The Athletic. “We immediately placed Cory on leave and terminated all access to any company data and financial controls. We are now conducting an investigation.”A spokesperson for Colorado’s athletics department said the university had no comment beyond the DA’s announcement.This is USA Swimming’s second hiring scandal in as many years. The group hired Chrissi Rawak, the former athletics director at Delaware, as its new CEO in February 2025. Nine days later, Rawak pulled out from the role after USA Swimming discovered she had not disclosed a report involving her from the U.S. Center for SafeSport, which investigates abuse and misconduct in athletics.Fallout from the Rawak misstep rippled across the swimming community, including from 23-time Olympic gold medalist Michael Phelps, who called for “systemic change” within USA Swimming. Kevin Ring, formerly the president of sports marketing firm Legends of Golf, took over as CEO in September 2025. USA Swimming has not yet announced a plan to replace Hilliard.
