FBI Finds $40M in Gold Bars at the Home of a Senior CIA Officer

Federal agents found hundreds of gold bars worth more than $40 million at the Virginia home of a senior CIA officer, according to court papers. The officer, David Rush, was arrested on May 19 and remains in jail while he awaits a detention hearing.

A search in Virginia

On May 18, FBI agents searched Rush's home and found “approximately 303 gold bars, each of which weighed approximately one kilogram,” an affidavit says. Based on the price of gold, investigators estimated the value at more than $40 million. They also seized nearly three dozen luxury watches, many of them Rolexes, along with $2 million in U.S. currency.

The court papers describe Rush as a “former senior executive service-level employee at a United States government agency.” People familiar with the investigation say he held a senior position at the CIA until very recently. The documents do not explain why he kept so much gold at home, or what work project would have required such sums.

One charge so far

The only charge lodged against Rush is that he inflated his academic credentials and obtained military leave pay worth tens of thousands of dollars, the authorities say. He is accused of falsely claiming to be a member of the Navy Reserve when he was discharged.

From last November to March, Rush asked for and received “a significant quantity of foreign currency and tens of millions of dollars in gold bars for work-related expenses,” according to the papers. When the CIA reviewed where the gold and currency were kept, the agency was “unable to locate the gold bars or significant amounts of the foreign currency.”

How the case surfaced

In a joint statement, the CIA and the FBI said the arrest followed a referral from the agency. “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,” the statement said. A lawyer for Rush declined to comment.