Corey Hilliard Resigns as USA Swimming CFO Following Arrest on Costs of Misappropriating Funds

Braden Keith contributed to this report.

Just a day after being arrested on expenses of misappropriating funds whereas with the University of Colorado, USA Swimming Chief Financial Officer Cory Hilliard has resigned from the place, a USA Swimming spokesperson advised SwimSwam Tuesday.

USA Swimming will start trying to find his substitute instantly. They haven’t introduced whether or not they’ll search internally for his substitute or go together with a search agency to search out his substitute.

USA Swimming discovered of the arrest round 11AM Mountain Time on Monday because the information was breaking extra broadly.

USA Swimming alerted SwimSwam to the arrest shortly thereafter, saying that they positioned Hilliard on depart instantly and eliminated his entry to any USA Swimming knowledge and monetary mechanisms.

USA Swimming can also be instantly beginning its personal investigation into whether or not there was any impropriety in his brief time at USA Swimming.

The information comes as USA Swimming prepares to launch its main championship meet for the summer season, with open water races on the Pan Pacific Championships going down Monday and pool swimming starting Wednesday.

Hilliard was employed in December because the USA Swimming CFO below the tenure of latest CEO Kevin Ring. Hilliard was beforehand the Senior Associate Athletic Director for Business Operations and Chief Financial Officer for the University of Colorado Boulder athletics division. He additionally taught a graduate degree course in Colorado’s enterprise faculty.

Hilliard labored at Colorado for over 17 years; earlier than that he spent eight years in athletics administration on the University of North Dakota.

He had no earlier shut ties to the game of swimming.

On July 22, 2025, roughly 4 months earlier than Hilliard’s hiring at USA Swimming, Colorado’s Athletic Director Rick George notified the University’s Department of Internal Audit of “concerns regarding possible fiscal misconduct” by Hilliard.

“At the time, Hilliard served as the designated administrator of the University’s Nike Elite program, responsible for managing employee product benefit allocations,” the Boulder press launch stated.

USA Swimming says that these considerations didn’t come up within the group’s background checks or vetting of Hilliard.

USA Swimming’s transition to a brand new administration has been rocky and has confronted repeated scrutiny over its vetting processes. The group’s first rent in 2025 to be its new CEO, Chrissi Rawak, finally withdrew from the function after being introduced after a SafeSport grievance got here to gentle.

USA Swimming was not named within the press launch asserting the arrest.

More from the Boulder Press Release:

The University of Colorado Boulder investigation revealed that between 2021 and 2025, Hilliard misappropriated University‑supplied Nike Elite funds for his private use, which is a violation of the settlement. The University of Colorado Boulder carried out an in depth evaluate that included monetary data, interviews with Athletics Department personnel, and evaluation of transaction histories related to Hilliard’s Nike Elite account. Ultimately, the investigation decided that Hilliard’s actions resulted in a confirmed lack of $9,510.50 to the University.

The CU Boulder Police Department carried out its personal impartial investigation which included reviewing monetary supplies and interviewing quite a few University personnel. In addition, they’ve labored carefully with the District Attorney’s Office all through this investigation.

The District Attorney’s Office filed the next expenses:

• Count One: Theft (F5)
• Count Two: Embezzlement of Public Property (F5)
• Count Three: First Degree Official Misconduct (M1)

District Attorney Michael Dougherty said, “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.”

CUPD Chief Ashley Griffin said, “The CU Boulder Police Department would like to thank the Boulder County District Attorney’s Office for its steadfast support in prosecuting financial crimes. CU Boulder does not tolerate fiscal misconduct in any form and once CUPD was notified it took immediate investigative action.”