A former CIA officer has been accused of misappropriating more than $40 million worth of gold bars by allegedly creating a fraudulent classified programme and using it to obtain government-owned assets for personal use, according to a report by The New York Times.
David Rush, who previously held top-level security clearance, is accused of establishing a bogus special access programme and using it to request large quantities of gold bars and foreign currency under the pretext of official government expenses.
Alleged scheme involved classified intelligence framework
According to the report, Rush sought tens of millions of dollars in gold bars and substantial amounts of foreign currency between November 2025 and March 2026, claiming the assets were required for work-related purposes.
Investigators allege that the resources were instead diverted for personal use.
The programme was reportedly presented as being linked to continuity of government operations, a term commonly used for plans intended to ensure government functions continue during national emergencies, attacks or major disasters.
FBI recovers gold bars, cash and luxury watches
When FBI agents searched Rush's residence in Auburn, Virginia, on May 18, they discovered a large collection of valuables.
According to the report, agents recovered approximately 303 one-kilogram gold bars valued at more than $40 million, nearly $2 million in cash and 35 luxury watches, including Rolex timepieces.
Rush has been charged with theft of public money in a criminal complaint filed in federal court in Virginia.
Secrecy allegedly used to conceal asset transfers
Special access programmes are generally reserved for highly sensitive intelligence activities and operate under strict secrecy requirements.
Sources familiar with the investigation told The New York Times that Rush allegedly exploited the programme's classified status to move government assets without attracting scrutiny.
The report states that he involved two colleagues in the programme and instructed them not to discuss it with others. One of the employees was reportedly persuaded to transfer large quantities of gold into the programme through a fraudulent government contract.
CIA investigation led to FBI probe
The alleged misconduct was uncovered during an internal CIA investigation, which subsequently referred the matter to the FBI.
In a joint statement, the CIA and FBI said: "After a CIA internal investigation identified potential violations of the law, CIA Director John Ratcliffe referred the information to the FBI for a law enforcement investigation."
Allegations extend beyond gold bar case
The accusations against Rush also include claims that he built a false professional profile over several years to secure increasingly senior government positions.
According to the report, he falsely claimed to possess academic qualifications and used those credentials when applying for federal jobs and security clearances.
Rush allegedly submitted fabricated educational records to the US Navy when he enlisted in 1997, claiming to hold a university degree. The claim reportedly helped him obtain a commission as an ensign in the US Navy Reserve in 2004 before his discharge in 2015.
Prosecutors call him a 'master manipulator'
During a recent court hearing, prosecutors described Rush as a "master manipulator" and alleged that he had also posed as a doctor.
The case remains under investigation.
