USA Swimming puts CFO Cory Hilliard on leave after embezzlement arrest

USA Swimming announced that its chief financial officer, Cory Hilliard, has been placed on administrative leave following his arrest on theft and embezzlement charges tied to his former position in the University of Colorado one outlet department. Boulder district attorneys claim Hilliard misappropriated $9,510 from the school's Nike Elite program for personal benefit. The swimming federation said it learned of the arrest on Monday and promptly revoked his access to company data and financial systems while launching an internal review.

Hilliard, 54, was hired in December as the organization’s CFO and was among the early senior appointments made by CEO Kevin Ring after he took the helm last September. Ring previously praised Hilliard for financial discipline and transparent leadership. The case adds to recent leadership turbulence at USA Swimming, which earlier saw the departure of a former CEO amid a SafeSport complaint.