Former Colorado Athletics CFO Faces Embezzlement Charges After USA Swimming Exit

In a stunning financial scandal that has rippled through both collegiate and Olympic sports circles, the former Chief Financial Officer of USA Swimming has been arrested on federal embezzlement charges tied to his previous tenure at the University of Colorado.

The arrest, confirmed by authorities this week, alleges that the executive systematically siphoned funds from the university’s athletic department while serving as its top money manager. The charges mark a dramatic fall from grace for a figure who was once entrusted with overseeing multi-million-dollar budgets at two of the nation’s most prominent swimming institutions.

Court documents indicate the alleged scheme involved the diversion of university funds over a period of several years, with the total sum reportedly reaching into the hundreds of thousands of dollars. Investigators say the suspect used his position of trust to reroute money through various channels, disguising the transactions as legitimate departmental expenses.

The suspect left his role with the University of Colorado in 2019 before assuming the CFO position at USA Swimming, the national governing body for the sport. He was placed on administrative leave by USA Swimming in early 2024 when the allegations first surfaced, and subsequently resigned before federal charges were formally filed.

Local officials in Colorado and federal prosecutors have been tight-lipped about the specifics of the ongoing case, but a spokesperson for the U.S. Attorney’s Office confirmed that the defendant faces multiple counts of wire fraud and embezzlement. If convicted, the former executive could face significant prison time and hefty fines.

The university has stated it is cooperating fully with investigators and has implemented new internal controls to prevent similar misconduct in the future. Meanwhile, the case has raised questions about financial oversight within collegiate athletic programs across the country, as institutions grapple with the immense sums of money flowing through their sports departments.

The suspect is expected to appear in federal court in Denver later this month. His legal team has not yet issued a public statement on the charges.