A former high-ranking U.S. government official, who once had top-secret security clearance, found himself in handcuffs following an FBI raid on his Virginia residence. The operation uncovered an astonishing $40 million in gold bars, $2 million in cash, and a collection of 35 luxury watches, as detailed in court documents.
David J. Rush was taken into custody on May 19. He now faces federal charges related to the theft of public funds, accused of defrauding the government out of millions by masquerading as a highly decorated Navy Reserve captain and an Air Force test pilot.
Rush held a prominent role with the CIA until recently, according to a report from The New York Times.
The scheme began to unravel when Rush made several requests to his agency between November 2025 and March 2026, seeking a “significant quantity of foreign currency and tens of millions of dollars in gold bars,” as revealed in an unsealed criminal complaint and FBI affidavit.
Although Rush insisted the funds were for “work-related expenses,” an FBI search conducted on May 18 discovered approximately 303 one-kilogram gold bars, $2 million in cash, and numerous luxury watches, predominantly Rolexes, according to court records.
Officials said David Rush had a $40 million stash of gold bars in his Virginia home. (Daniel Barry/Bloomberg via Getty Images)
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A federal investigation revealed that despite holding a Senior Executive Service (SES) rank and Top Secret/SCI clearance, Rush routinely lied about his military background and education.
In applications for his high-level job, Rush claimed he was a graduate of the U.S. Air Force Test Pilot School and the “current director of test for a 145-person, 18-aircraft joint Army/Navy weapons test organization,” according to court documents.
However, military records show Rush was never a pilot and held no FAA licenses; his actual duties in the Navy included working as an information systems technician.
Authorities found 35 luxury watches in Rush’s home, some of which were Rolex watches. (Daniel Acker/Bloomberg)
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He also allegedly faked his educational credentials to boost his federal salary, claiming he held a bachelor’s degree from Clemson University and a master’s degree from Rensselaer Polytechnic Institute, according to the filings.
Registrars from both universities confirmed to the FBI they have no record of Rush ever attending their schools.
Further, the FBI claims that Rush scammed the government out of $77,000 in fraudulent military leave, claiming 744 hours of paid time off by telling his employer he was actively serving as a Navy Reserve captain (O-6) through September 2025.Â
The FBI said $2 million in cash was found inside Rush’s home during a search. (Getty Images)
Rush was honorably discharged a decade earlier, in February 2015, as a lieutenant (O-3), according to court documents.
He is currently being held in federal custody by the U.S. Marshals after a judge initially denied his request for release.
Rush recently waived his right to a preliminary hearing, and a magistrate judge found probable cause to move the case to a grand jury.Â
The FBI and CIA did not immediately respond to inquiries from Fox News Digital.