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Gold Bars

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New York warns seniors about gold-bar scam that has swindled over $100 million
crime17 days ago

New York warns seniors about gold-bar scam that has swindled over $100 million

New York Attorney General Letitia James warned of a nationwide scam in which criminals use fake pop-ups and impersonate law enforcement to coerce older adults into withdrawing funds and delivering gold bars; victims are told to hand over cash and not discuss the breach. The scheme, which has led to losses of more than $100 million in New York over two years and has appeared in other states, relies on urgency and secrecy. The public is urged not to give remote access, not to call numbers from messages, to contact their banks, and to report suspicious activity to authorities.

via The Guardian|
#crime#elderly#fraud
CIA Officer’s Fake Top Gun Saga Unravels Amid $40 Million Gold Hoard
national-security2 months ago

CIA Officer’s Fake Top Gun Saga Unravels Amid $40 Million Gold Hoard

A former Ashburn CIA officer, David Rush, is accused of fabricating a decades-long Navy fighter-pilot past and a fictional top-secret program to siphon government funds, while actually serving as a Navy information systems technician. Prosecutors say he spent years deceiving colleagues and authorities, and investigators found 303 gold bars worth over $40 million, plus $2 million in cash and 35 luxury watches at his home. He’s charged with stealing public money via fraudulent time sheets and is held as a flight risk, raising questions about how background checks and polygraphs missed the deception.

via NBC News|
#cia#fraud#gold-bars
CIA Officials Put on Leave as Officer’s Gold-Stash Scandal Unfolds
national-security2 months ago

CIA Officials Put on Leave as Officer’s Gold-Stash Scandal Unfolds

The CIA has placed several senior officials on administrative leave while it reviews how they handled the case of David Rush, a veteran officer arrested in Virginia for allegedly lying about his Navy Reserve status and for receiving large sums of foreign currency and gold bars for “work-related expenses.” Authorities found about 303 gold bars, $2 million in cash, and more than 30 luxury watches at his home. The unfolding case has lawmakers questioning vetting and oversight, with the CIA referring the matter to the FBI as an internal investigation continues.

via NBC News|
#administrative-leave#arrest#cia
Former CIA employee charged after alleged $40M gold-bar theft
crime2 months ago

Former CIA employee charged after alleged $40M gold-bar theft

A former CIA executive service employee, David Rush, is accused of stealing 303 gold bullion bars worth more than $40 million and over $2 million in foreign currency from a government storage space, along with 35 luxury watches. The theft charge is linked to alleged falsification of educational/military credentials and timecard fraud used to obtain and maintain his position; Rush remains in custody in Virginia as the FBI and CIA investigation continues, with a detention hearing postponed.

via The Guardian|
#cia#crime#fbi
Former CIA Official Arrested After $40 Million in Gold Found at Virginia Home
crime3 months ago

Former CIA Official Arrested After $40 Million in Gold Found at Virginia Home

A former senior CIA official, David Rush, was arrested after FBI agents found about 303 gold bars (roughly 1 kg each) worth more than $40 million, plus around $2 million in cash and 35 luxury watches, at his Virginia home. Court documents say Rush sought foreign currency and tens of millions of dollars in gold bars for “work-related expenses” between late 2025 and March 2026 and later received them; the CIA couldn’t locate the gold or currency, triggering an FBI investigation. Rush, who reportedly had top secret clearance, is charged with criminal theft of public money and is detained pending his hearing.”,

via BBC|
#cia#crime#david-rush
Ex-CIA Officer Allegedly Hoarded $40 Million in Gold at Home
politics3 months ago

Ex-CIA Officer Allegedly Hoarded $40 Million in Gold at Home

A former CIA senior officer with top-secret clearance is charged with criminal theft of public money after authorities say he secretly stored about 300 gold bars worth over $40 million at his home and lied about his background for years. The FBI seized the gold, cash, and watches during a raid, and the case raises questions about the effectiveness of the government's continuous vetting and background-check programs for intelligence personnel.

via NBC News|
#cia#criminal-charges#fbi
"Sen. Bob Menendez Convicted in Federal Corruption Case"
finance2 years ago

"Sen. Bob Menendez Convicted in Federal Corruption Case"

Senator Bob Menendez was found guilty on multiple charges, with gold bars seized from his home being key evidence. The case highlights a broader trend of Americans investing in physical gold as a hedge against inflation and banking instability, with demand rising after recent bank failures. Despite the availability of gold ETFs, many prefer owning tangible gold for its perceived stability.

via CNN|
#banking-crisis#bob-menendez#finance
"Costco's Gold Bar Sales Soar to $200 Million Monthly"
business2 years ago

"Costco's Gold Bar Sales Soar to $200 Million Monthly"

Costco has seen a surge in demand for gold bars, selling as much as $200 million worth every month, with one-ounce bars priced at $2,300 each. The high demand has led to a limit of five bars per customer, reflecting gold's status as a hedge against inflation. Personal finance advisor Humphrey Yang humorously shared his unexpected purchase of a gold bar at Costco, highlighting the unexpected nature of the trend.

via Inside Edition|
#business#costco#demand
"Costco's Surging Gold Bar Sales Spark Interest in Precious Metals"
business2 years ago

"Costco's Surging Gold Bar Sales Spark Interest in Precious Metals"

Costco has been selling gold bars alongside its usual bulk items, with sales now reaching up to $200 million worth of gold and silver each month. The surge in sales is attributed to increased interest in gold during times of economic turmoil and geopolitical concerns. Despite the popularity, analysts believe that Costco's profit from gold sales is likely minimal due to pricing and shipping costs. The Commodity Futures Trading Commission has cautioned that investing in precious metals can be highly volatile, and experts recommend allocating only a small portion of assets to gold investments.

via Yahoo! Voices|
#business#costco#gold-bars
"Costco's Gold Bar Sales Soar to $200 Million Monthly"
business2 years ago

"Costco's Gold Bar Sales Soar to $200 Million Monthly"

Costco has been selling gold and silver bars since October, with analysts estimating monthly sales of up to $200 million. The bars sell out quickly, leading to online discussions on how to purchase them. Costco attributes the surge in e-commerce sales to the sales of precious metals, and the one-ounce gold bars, available only to members, have been reported to sell for around $2,000.

via The New York Times|
#business#costco#e-commerce