A former Central Intelligence Agency executive has been accused of stealing more than $40 million in gold bars and other valuables by allegedly creating a fake spy program to divert government funds.

David Rush, who worked as a senior-level CIA employee for 17 years, was arrested in May following an FBI investigation. According to officials, Rush stole millions from the U.S. government through what investigators describe as a fraudulent "special access program."

FBI agents discovered that Rush had taken 303 gold bullion bars from his government office, each weighing approximately 2.2 pounds. In addition to the gold bars, investigators found dozens of luxury watches and more than $2 million in foreign currency in his possession.

The Washington Post first reported details of the alleged fake spy program that Rush purportedly used to channel government money for his personal benefit. The case represents one of the most significant theft allegations involving a CIA official in recent years.

Rush's arrest in May marked the culmination of an investigation into the missing assets from CIA facilities. The total value of the stolen items exceeds $40 million, according to government officials familiar with the case.