Connect with us
DAPA Banner
DAPA Coin
DAPA
COIN PAYMENT ASSET
PRIVACY · BLOCKDAG · HOMOMORPHIC ENCRYPTION · RUST
ElGamal Encrypted MINE DAPA
🚫 GENESIS SOLD OUT
DAPAPAY COMING

Business

(VIDEO) Former CIA Official Charged with Stealing $40 Million in Gold Bars from Agency

Published

on

Gold

WASHINGTON — A former senior CIA official has been arrested and charged with stealing more than $40 million in gold bars from the spy agency and concealing them in his Virginia home, federal prosecutors said Thursday in a case that has raised serious questions about internal controls and background vetting at one of the nation’s most sensitive institutions.

David J. Rush, described in court documents as a former Senior Executive Service employee with top-secret clearance, faces charges of theft of public funds. Authorities say he also falsified his educational and military background, including claiming degrees he never earned and receiving nearly $77,000 in improper military leave pay after his honorable discharge from the Navy in 2015.

The FBI executed a search warrant at Rush’s residence on May 18 and seized approximately 303 gold bars, each weighing about one kilogram, along with roughly $2 million in cash and 35 luxury watches, many of them Rolex brand. The estimated value of the gold alone exceeds $40 million based on current market prices.

Advertisement

Rush allegedly made multiple requests for gold and foreign currency between November and March, claiming the funds were needed for “work-related expenses,” according to an FBI affidavit filed in U.S. District Court for the Eastern District of Virginia. A subsequent search of his government office found only a portion of the requested currency, prompting the agency to realize large amounts were missing.

CIA and FBI officials issued a joint statement confirming the arrest on May 19 following an internal CIA investigation. “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. “The FBI is working closely with our partners at the CIA and the Department of Justice as we continue to investigate this matter fully.”

Rush’s attorney, Jessica N. Carmichael, declined to comment on the allegations. Rush waived his right to a preliminary hearing and is being held by the U.S. Marshals Service. A detention hearing is scheduled for June 5.

Questions Over Background Checks and Oversight

The case has sparked concern about how Rush was able to rise to a senior position within the CIA while allegedly falsifying key parts of his background. According to the affidavit, Rush claimed a bachelor’s degree from Clemson University and a master’s from Rensselaer Polytechnic Institute. FBI investigators found no record of him attending either institution. He also falsely claimed to be a U.S. Navy pilot.

Advertisement

The incident has prompted internal reviews at the agency regarding vetting procedures for employees handling sensitive assets. A former U.S. official familiar with the matter said Rush worked in the CIA’s Directorate of Science and Technology, which develops advanced tools for espionage operations. That directorate often deals with classified budgets and equipment that require strict oversight.

The scale of the alleged theft — involving hundreds of kilograms of physical gold — has surprised even seasoned intelligence veterans. Gold bars are sometimes used in covert operations for their portability and universal value, but strict accounting protocols are supposed to prevent misuse.

Broader Implications for Intelligence Community

The arrest comes at a sensitive time for the U.S. intelligence community, which has faced increased scrutiny over security and financial controls. The case highlights vulnerabilities in how agencies manage high-value assets, particularly those intended for classified operations where transparency is limited for national security reasons.

Experts say the episode could lead to tighter oversight of discretionary funds and physical assets across the intelligence community. Congressional intelligence committees are expected to seek briefings on the matter in coming weeks.

Advertisement

The CIA has not commented on specific internal controls related to Rush but emphasized in its joint statement with the FBI that it takes such allegations seriously and acts swiftly when potential violations are identified.

Rush’s Career and Alleged Deception

Rush joined the CIA around 2009 and rose through the ranks to a senior executive position. The affidavit alleges he continued claiming active military reserve status long after his 2015 discharge, allowing him to receive improper compensation.

The combination of alleged financial theft and background falsification paints a picture of long-term deception. Prosecutors say Rush’s actions compromised not only agency resources but also the trust essential to intelligence work.

The case is being prosecuted by the U.S. Attorney’s Office for the Eastern District of Virginia, a jurisdiction that frequently handles national security matters due to its proximity to Washington and the Pentagon.

Advertisement

Public and Expert Reaction

News of the arrest has drawn widespread attention, with some commentators expressing shock that such a large-scale theft could occur within the CIA. Others have pointed to the case as evidence of the need for stronger whistleblower protections and internal auditing mechanisms.

Intelligence community veterans stressed that while this appears to be an isolated incident, it underscores the importance of rigorous, ongoing vetting for personnel with access to sensitive materials and funds.

The gold bars and luxury items seized suggest a level of personal enrichment that stands in stark contrast to the agency’s mission. The presence of Rolex watches adds a particularly conspicuous element to the allegations.

As the case proceeds, prosecutors will likely seek to trace any additional assets or expenditures by Rush that could indicate how the stolen funds were used. Defense attorneys may challenge the handling of evidence or question the agency’s internal processes.

Advertisement

For now, the arrest represents a significant embarrassment for the CIA at a time when the agency is navigating complex global challenges. The swift referral to the FBI and public acknowledgment of the investigation signal an effort to demonstrate accountability.

The incident is expected to fuel broader discussions about transparency and oversight within U.S. intelligence agencies. While much of their work must remain classified, cases involving potential criminal conduct often require a balance between secrecy and public trust.

Rush’s next court appearance on June 5 will provide additional details as the legal process unfolds. Authorities have not released a full timeline of when the alleged thefts occurred or how long the scheme may have gone undetected.

The case serves as a reminder of the human element in even the most sophisticated security organizations. As investigations continue, both the CIA and Congress will likely examine what systemic changes might prevent similar breaches in the future.

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

Comstock Resources: Pinnacle Deal Improves Its Value (NYSE:CRK)

Published

on

Hess Midstream: The Issue Continues To Be The Bakken Upstream Business (NYSE:HESM)

This article was written by

Aaron Chow, aka Elephant Analytics has 15+ years of analytical experience and is a top rated analyst on TipRanks. Aaron previously co-founded a mobile gaming company (Absolute Games) that was acquired by PENN Entertainment. He used his analytical and modeling skills to design the in-game economic models for two mobile apps with over 30 million in combined installs. He is the author of the investing group Distressed Value Investing, which focuses on both value opportunities and distressed plays, with a significant focus on the energy sector. Learn more>>

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

Delta Air Lines: My Buy Thesis Played Out, But Growing Risks Are A Real Concern (Rating Downgrade)

Published

on

Delta Air Lines: My Buy Thesis Played Out, But Growing Risks Are A Real Concern (Rating Downgrade)

Delta Air Lines: My Buy Thesis Played Out, But Growing Risks Are A Real Concern (Rating Downgrade)

Continue Reading

Business

Amazon: I'm Buying The Free Cash Flow Collapse

Published

on

Amazon: I'm Buying The Free Cash Flow Collapse

Amazon: I'm Buying The Free Cash Flow Collapse

Continue Reading

Business

Microsoft: Market Is Missing The Big Picture

Published

on

Human Head with Open Window and Ladder on Grass and Sky Backdrop

Microsoft: Market Is Missing The Big Picture

Continue Reading

Business

Ultragenyx: The Setrusumab Reset Creates A Cleaner Rare Disease Opportunity

Published

on

Ultragenyx: The Setrusumab Reset Creates A Cleaner Rare Disease Opportunity

Ultragenyx: The Setrusumab Reset Creates A Cleaner Rare Disease Opportunity

Continue Reading

Business

TPG Mortgage Investment Trust: A Covered 12% Yield, But Still A Mortgage REIT (NYSE:MITT)

Published

on

REIT symbol. Real Estate Investment Trust, Real Estate Investment Trusts with miniature houses Investment concept. copy space, business background

This article was written by

The author is a director at a small Boston-based software company where he oversees India operations across HR, finance, and business development. His broader professional background spans entrepreneurship, operations, and management across multiple industries. Earlier in his career, he was involved in building out a bottled beverages plant, reflecting a longstanding interest in business building, execution, and commercial strategy. He also holds a PhD in history and teaches part-time at a local college, bringing a research-driven and analytical perspective to both his professional and investing workHe has been investing in U.S. equities for nearly two decades, having started well before international access to U.S. markets became commonplace for Indian investors. Over time, he has developed a style that sits between value and growth. He is most interested in businesses where long-term earnings potential, competitive positioning, or strategic optionality are not yet fully reflected in the stock price. His work is grounded in valuation, but he also looks closely at business quality, management execution, industry structure, and the durability of growth.His primary sector focus is software, IT, and AI, including the growing application of AI across industries such as healthcare. He is especially interested in companies with scalable models, improving economics, and the ability to compound earnings over time. At the same time, his interests are not limited to technology. He also follows real estate-related opportunities, including REITs, and remains open to writing on other sectors where the investment case is compelling.On Seeking Alpha, he aims to write thoughtful, research-based articles that combine business analysis with valuation discipline. His goal is not simply to identify attractive stories but to assess whether the market is mispricing risk, growth, or long-term earnings power. He writes to share well-reasoned ideas with serious investors, refine his own thinking through public analysis, and contribute to a more disciplined discussion around investing. The author is associated with another Seeking Alpha analyst – Dr. Manimala M.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

Eldorado Gold Corporation: Well Positioned To Take Advantage Of Elevated Gold Prices

Published

on

Eldorado Gold Corporation: Well Positioned To Take Advantage Of Elevated Gold Prices

This article was written by

As an investor for almost 20 years, I like to focus on companies with low P/B and P/FCF ratios as I aim to collect dividends from the companies I invest in. I like to use DCF models in my analysis to find the best target prices for the stocks I want to open positions in. My motivation for writing on Seeking Alpha is to share my investment philosophy with a community of sophisticated investors and grow my knowledge base alongside them.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Advertisement
Continue Reading

Business

10 Things to Know About Father’s Day as the Holiday Lands on Its Latest Possible Date

Published

on

Savannah Guthrie & Nancy Guthrie

Father’s Day 2026 falls on Sunday, June 21 — the latest possible date the holiday can occur, and one that happens to coincide with the June solstice this year. Here are 10 things worth knowing about the holiday’s history, traditions, and global variations as families across the country prepare to celebrate.

1. The date follows a simple but floating rule

In the United States, Father’s Day is celebrated on the third Sunday in June. The rule is short enough to memorize: the third Sunday in June. There is no equinox math, no lunar calculation, no church table. Count to the first Sunday in June, then add 14 days. That Sunday is Father’s Day. Because June begins on a different weekday each year, the third Sunday can fall anywhere from June 15 through June 21 — and this year lands right at the latest edge of that range.

2. A woman in Spokane is credited with founding the holiday

Advertisement

Sonora Smart Dodd of Spokane, Washington, is usually credited with creating Father’s Day. She is said to have come up with the idea in 1909 while listening to a sermon on Mother’s Day. Dodd’s father, William Jackson Smart, was a Civil War veteran who raised six children alone on his farm after his wife died in childbirth.

3. Dodd originally wanted the holiday on her father’s actual birthday

Mrs. Dodd proposed to the Spokane Ministerial Association and the YMCA that they celebrate a “father’s day.” She chose June 5 because it was her father’s birthday. The idea received strong support, but the good ministers of Spokane asked that the day be changed to give them extra time to prepare sermons on the unexplored subject of fathers.

4. The first official observance happened in 1910

Advertisement

The first Father’s Day in Spokane, Washington, was observed on June 19, 1910, the third Sunday in June, and became an annual event there. Soon, other towns had their own celebrations, though the tradition would take decades to become a permanent national holiday.

5. A mining disaster may represent an even earlier observance

Some historians point to the 1907 Monongah mine disaster in West Virginia as the first observance. The explosion killed 361 men, around 250 of them fathers, and left more than a thousand children without a dad. Grace Golden Clayton, whose own father died in the disaster, asked the pastor of her local Methodist chapel to hold a service of commemoration. The service happened, but it never became an annual tradition.

6. It took 62 years and multiple presidents to make it official

Advertisement

Despite widespread support, Father’s Day was not a permanent national holiday for many years. President Woodrow Wilson wanted to make the day official after a visit to Spokane, but Congress resisted the suggestion, fearing the observance would become too commercialized. President Calvin Coolidge stopped short of issuing a national proclamation in 1924. President Lyndon Johnson recognized the holiday in 1966, but it wasn’t until 1972 that President Richard Nixon signed a law declaring that Father’s Day be celebrated annually on the third Sunday in June.

7. A competing founding story also exists

Sonora Smart Dodd isn’t the only person credited with originating the holiday. Harry C. Meek, a member of Lions Clubs International, claimed that he first had the idea for Father’s Day in 1915. Meek argued that the third Sunday of June was chosen because it was his birthday. The Lions Club has named him “Originator of Father’s Day.”

8. Commercialization came later than the holiday’s founding

Advertisement

The popular story is that Father’s Day was cooked up by greeting-card makers. The actual story is closer to the opposite: it took one woman more than half a century of campaigning, plus three presidents, to get the day onto the calendar at all. Card sales came later, and the public mostly resisted them. In 1938, Dodd collaborated with the Father’s Day Council, a group of New York men’s wear retailers, for the commercial promotion of the observance.

9. Americans are projected to spend a record amount this year

Today, the holiday is one of the most celebrated days of the year in the U.S. In 2026, Americans are projected to spend a record $27.9 billion on Father’s Day, according to the National Retail Federation and Prosper Insights & Analytics. Popular purchases include greeting cards, clothing, special outings, gift cards, and personal care products.

10. The date — and even the season — varies dramatically around the world

Advertisement

Father’s Day looks different depending on where you are in the world. According to International Event Day, more than 111 countries worldwide now observe Father’s Day, though only about 27% celebrate it on the same date each year. Several countries with strong Catholic traditions observe Father’s Day on March 19, the feast of Saint Joseph, venerated as the patron saint of fathers — Spain, Portugal, Italy, and Latin American countries including Honduras and Bolivia follow this date. Germany observes Father’s Day on Ascension Day, a movable Christian feast that falls 39 days after Easter, landing on May 14 in 2026. Australia and New Zealand celebrate on the first Sunday in September, reflecting the Southern Hemisphere’s seasons, where September marks the arrival of spring; that lands on September 6 in 2026. Thailand observes Father’s Day on December 5, the birthday of the late King Bhumibol Adulyadej, who reigned for over seven decades and was widely regarded as a fatherly national figure.

A Quiet Tribute, Often Marked With Color

Beyond gifts and family gatherings, the holiday carries smaller, more personal traditions as well. Some observe the custom of wearing a red rose to indicate that one’s father is living, or a white rose to indicate that he is deceased. Other males — for example, grandfathers or uncles who have assumed parenting roles — are often also honored on the day, broadening the holiday’s reach beyond biological fathers alone.

A Founder’s Lasting Legacy

Advertisement

Sonora Smart Dodd campaigned for the holiday she helped create for more than 50 years before it finally achieved permanent national recognition. Dodd died in 1978 at age 96; her grave in Spokane reads “Founder of Father’s Day” — a fitting tribute to a woman whose decades-long advocacy ultimately reshaped how an entire country marks the contributions of fathers each June.

What This Means for 2026

With Father’s Day landing on its latest possible date this year and coinciding with the June solstice, families across the United States, Canada, and the United Kingdom will mark the occasion on June 21, while relatives connected to countries observing the holiday on different dates — whether in March, May, or September — will have their own separate opportunities throughout the year to honor the fathers and father figures in their lives.

Advertisement
Continue Reading

Business

Can an Asian Team Reach the World Cup Semifinals in 2026? Here’s the Realistic Case

Published

on

Son Heung-min scored Tottenham's late winner to beat Luton 2-1

With a record nine Asian nations competing at the 2026 World Cup — the most in the tournament’s history — questions are once again being raised about whether the continent can finally produce a team capable of advancing all the way to the semifinals, a feat only one Asian nation has ever achieved.

A Record Continental Turnout

Asia sends a record nine nations to the 2026 World Cup, from the 8.5 slots of the 48-team era. Nine AFC nations — Japan, Iran, South Korea, Australia, Uzbekistan, Qatar, Iraq, Saudi Arabia, and Jordan — represent the most in history. That allocation nearly doubled from the previous tournament cycle, with Asia’s automatic allocation rising from 4.5 to 8.5 slots compared to the 32-team era.

Among the nine, three nations arrive with landmark stories. Uzbekistan and Jordan both qualified for the first time ever, while Iraq returned after a 40-year absence, ending their wait since 1986 by winning the intercontinental playoff in March 2026.

Advertisement

The Historical Benchmark: South Korea’s 2002 Run

Any conversation about Asian teams reaching the semifinals inevitably traces back to a single, still-unmatched achievement nearly a quarter-century old. South Korea reached the semifinals as co-hosts in 2002, the deepest run by any Asian nation. On the way, they knocked out Italy and Spain before losing 1-0 to Germany.

That run remains the high-water mark for the continent, and no Asian nation has come close to replicating it since, even accounting for genuine progress in other editions of the tournament.

2022 Marked a Different Kind of Breakthrough

Advertisement

The most recent World Cup demonstrated Asian football’s growing competitiveness against elite European opposition, even without producing a deep knockout run. Japan beat both Germany and Spain 2-1 in the group stage in 2022; the win over Spain came with just 17.7% possession, the lowest by a winning team in recorded World Cup history. Three Asian nations reached the knockouts together that year, a record for the continent.

Saudi Arabia also contributed to that wave of upsets, producing one of the biggest shocks in World Cup history by beating eventual champions Argentina 2-1 in their opening game in 2022. Australia, too, reached the Round of 16 that year, beating Tunisia and Denmark in the group stage.

Japan Enters as the Continent’s Most Fancied Side

Heading into this year’s tournament, one nation has consistently been identified as Asia’s strongest overall contender. Japan, ranked 18th in the world, under Hajime Moriyasu, are the most fancied Asian side, and the first nation in the world to seal their ticket to this tournament, back in March 2025, after a near-flawless qualifying campaign.

Advertisement

That status was reinforced in the opening round of group play. Japan matched the Netherlands with a 2-2 draw in their tournament opener, proving they can challenge Europe’s top teams even at the World Cup itself, a continuation of the pattern they established against Germany and Spain four years earlier.

South Korea’s Quietly Strong Qualifying Record

Beyond Japan, South Korea has also generated considerable optimism heading into the tournament, built on an unusually clean run through Asian qualifying. South Korea were the only unbeaten team in the AFC qualifiers for the 2026 World Cup, and their strong qualifying record goes back a long way; they are making an 11th consecutive appearance at the World Cup, a run that stretches back to 1986. Only Brazil, Germany, Argentina, and Spain are on a longer run of consecutive World Cup participations.

Despite that consistency, South Korea’s historical ceiling outside of home soil remains modest. South Korea’s best performance to date came when they famously reached the semifinals as co-hosts in 2002, but when not playing on home soil, they have never gotten past the last 16. Indeed, they have the lowest win rate among teams that have played at least 30 matches at the World Cup, at 18.4%, winning just seven of their 38 games.

Advertisement

Still, South Korea opened this year’s tournament with a notable show of resilience, overcoming a 0-1 deficit to beat Czechia 2-1 in their opening match.

Iran’s Often-Overlooked Strength

While Japan, South Korea, and Australia typically receive the bulk of attention when discussing Asia’s strongest sides, one analysis points to a frequently underrated contender. Considering plenty of focus is usually on Japan, South Korea, and Australia when it comes to Asia’s strongest sides, it can often go under the radar that Iran are actually the continent’s second-highest-ranked nation in football. They have shown their World Cup pedigree in recent editions with a victory over Morocco and a draw with Portugal in 2018, as well as a triumph over Wales in 2022, although their preparations for this summer have obviously been far from ideal.

Qatar and Saudi Arabia Show Early Signs of Life

Advertisement

Beyond the traditional powers, two other Asian nations delivered notable results in the tournament’s opening round. Qatar earned a 1-1 draw against Switzerland after a late equalizer, marking a historic moment for the hosts of the previous edition, while Saudi Arabia took a 1-0 lead against Uruguay before being pegged back to a 1-1 draw in a tightly contested game.

The Steepest Challenges: Iraq and Jordan

Not every Asian nation enters the tournament with realistic knockout-stage hopes, with two debutant or returning sides facing particularly daunting group draws. Iraq suffered a 4-1 defeat to Norway in their opener, highlighting the challenges of their first World Cup in 40 years. Having been drawn into a group featuring two top-15 teams in France and Senegal, alongside a Norway side boasting genuine world-class talents in Erling Haaland and Martin Ødegaard, it is difficult to even imagine Iraq sneaking a third-place finish that would give them a glimmer of hope for the knockout rounds.

The Realistic Verdict

Advertisement

Based on the available evidence, no single Asian team currently stands out as a clear semifinal threat, but the depth of competitive performances across the continent — Japan drawing with the Netherlands, South Korea’s resilient comeback against Czechia, Qatar’s late equalizer against Switzerland, and Saudi Arabia matching Uruguay for long stretches — suggests Asian football’s overall competitiveness against traditional powers has genuinely improved since South Korea’s lone semifinal run in 2002.

Japan remains the continent’s best-positioned side to make a deep run, given their qualifying dominance and proven ability to beat elite European opponents in group play. South Korea’s path would likely require replicating, at minimum, the kind of resilience they showed in their opener, while avoiding the historical pattern that has limited them to the round of 16 in every tournament not played on home soil.

With group play still ongoing across all nine Asian nations’ fixtures, the coming days and weeks will determine how many — if any — advance deep enough into the knockout rounds to even begin entertaining realistic semifinal aspirations. Given the historical rarity of an Asian team advancing that far, and the continent’s track record of producing memorable individual upsets rather than sustained tournament-long runs, reaching the semifinals would represent a genuinely historic achievement for any of the nine nations competing — one that has been accomplished by an Asian side exactly once in World Cup history, and only while playing on home soil.

Advertisement
Continue Reading

Business

Cipher Digital: $11.4B Backlog Built For Hyperscale

Published

on

Target Hospitality Stock Set To Benefit From String Of Contract Wins (NASDAQ:TH)

Cipher Digital: $11.4B Backlog Built For Hyperscale

Continue Reading

Trending

Copyright © 2025