Former CIA Official Charged With Stealing 303 Gold Bars Worth $40 Million
When FBI agents executed a search warrant at David Rush's Virginia home on May 18, they were not entirely sure what they would find. What they found was 303 gold bars worth more than $40 million, approximately $2 million in U.S. currency, and roughly 35 luxury watches.
Rush, a former senior CIA official who held top secret-level clearance and a management position at the agency, was arrested on May 19 and charged with criminal theft of public money in a complaint filed in the Eastern District of Virginia. He had told the CIA the gold and foreign currency were needed for "work-related expenses." Investigators found most of it in his house.
The Scheme
According to an FBI affidavit, between November 2025 and March 2026, Rush used his senior executive position to request a "significant quantity of foreign currency and tens of millions of dollars in gold bars for work-related expenses." The affidavit states it is unclear what Rush intended to use the funds for, but notes that only a portion was found in a storage space near his office. The rest — 303 gold bars and millions in cash — was recovered from his home.
The CIA's internal investigation identified potential violations of the law and referred the matter to the FBI. CIA Director John Ratcliffe made the referral personally. In a joint statement, the CIA and FBI said they "are committed to following the facts and pursuing accountability."
Rush's attorney did not respond to requests for comment.
A Fabricated Background
The gold was not the only problem. According to the affidavit, Rush had been lying to his employers about his background for nearly two decades — a deception that helped him climb into the senior executive service ranks at the CIA, one of the highest levels of government employment.
Investigators allege Rush falsely claimed to be a Navy test pilot and fabricated academic degrees from Clemson University and Rensselaer Polytechnic Institute on his applications to enter senior executive service. The false credentials allowed him to obtain an inflated salary, according to the affidavit.
The lies did not stop there. After being honorably discharged from the Navy in 2015, Rush allegedly claimed 744 hours of military leave — resulting in approximately $77,000 in additional compensation — while committing what the affidavit describes as "timecard fraud."
What Has Been Recovered
One source familiar with Rush's employment history told NBC News that most — if not all — of the funds, including the foreign currency and the gold bars, were recovered. The gold bars were seized from his Virginia residence during the May 18 search. The 35 luxury watches were also seized.
Rush appeared in federal court and was charged with criminal theft of public money. He has not entered a formal plea. His case is being prosecuted in the Eastern District of Virginia.
The Scale of the Alleged Fraud
The case represents one of the most brazen instances of alleged internal theft at an American intelligence agency in recent memory. Rush operated at the senior executive service level — a tier of government employment reserved for people entrusted with the nation's most sensitive information, subject to rigorous background checks and ongoing vetting. The allegation that he spent nearly two decades lying about his credentials while holding top secret clearance raises serious questions about the CIA's internal vetting and oversight processes.
The CIA and FBI said in their joint statement that they take "all potential violations of law seriously" and that the investigation is ongoing.
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