USA Swimming CFO Cory Hilliard Placed On Leave After Theft, Embezzlement Arrest

USA Swimming CFO Cory Hilliard found himself in hot water on Monday ... when he was arrested for allegedly misappropriating funds at his old gig.

Hilliard -- who previously worked as an assistant Athletic Director at the University of Colorado Boulder -- was under investigation by the school and local police for alleged fiscal misconduct between 2021 and 2025.

Colorado athletic director Rick George notified the school of the potential wrongdoing in July 2025 ... while Hilliard served as the designated administrator of its Nike Elite program, which is in place to help athletes, coaches and staffers with merchandise.

An investigation was launched ... and the school determined Hilliard used those credits for his personal use ... resulting in a total loss of $9,510.50 for the school.

The District Attorney's Office reviewed the matter and filed charges of felony theft, felony embezzlement and misdemeanor official misconduct.

The felony charges can carry up to three years in prison, plus up to a $100K fine.

CUPD chief Ashley Griffin released a statement on the arrest ... saying the 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."

DA Michael Dougherty added ... "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."