Cory Hilliard, USA Swimming’s CFO, has reportedly resigned after authorities charged him with theft and embezzlement for alleged crimes he committed while working as an administrator in the University of Colorado athletics department. Prosecutors have accused him of misusing thousands of dollars in merchandise credits while working for the institution.
The Boulder District Attorney’s Office charged Hilliard with stealing money from the school’s Nike Elite program for personal use. Hilliard was “responsible for managing employee product benefit allocations” while serving as the program’s designated administrator, according to the DA’s office.
“Following an internal audit and investigation by the University of Colorado Boulder, the University of Colorado Boulder Police Department conducted a criminal investigation into allegations of Theft, Embezzlement, and Official Misconduct,” the District Attorney’s Office said in a press release announcing Hilliard’s arrest.
“Based on that investigation, the District Attorney’s Office and Police Department are moving forward with criminal charges and prosecution.”
Hilliard has resigned from his position with USA Swimming
Hilliard was arrested in Colorado on Monday and was put on leave by USA Swimming the same day. On Tuesday, the organization confirmed that Hilliard had resigned.
“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 DA’s press release continued.
“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.”
Prior to taking the CFO position with USA Swimming, Cory Hilliard served as the University of Colorado Boulder athletics department’s Chief Financial Officer and Senior Associate Athletic Director for Business Operations. He also taught a graduate-level course in the business school. He spent more than 17 years working at the University of Colorado Boulder. Prior to that, he worked as an athletic administrator at the University of North Dakota for eight years.
This is the second time in the past year that the leadership of USA Swimming has been under scrutiny. Chrissi Rawak, who was slated to become USA Swimming’s CEO last year, withdrew her name after it was discovered that she had failed to disclose a report from the U.S. Center for SafeSport.