Prosecutors have indicted a former senior adviser at the Federal Reserve Board on charges of conspiring to pass confidential financial data to China.
He is accused of helping Chinese contacts gain access to sensitive U.S. market information for personal gain.
Key Facts:
- The suspect is 63-year-old John Harold Rogers of Vienna, Virginia.
- He served as a Senior Adviser in the Division of International Finance at the Federal Reserve Board (FRB) from 2010 to 2021.
- Rogers allegedly shared Federal Reserve trade secrets with individuals connected to China’s intelligence and security services.
- In 2023, he was paid about $450,000 to teach part-time at a Chinese university.
- He faces charges of conspiracy to commit economic espionage and making false statements, carrying potential prison terms of up to 15 years and five years, respectively.
The Rest of The Story:
According to the indictment, Rogers possessed a Ph.D. in Economics and worked on confidential information tied to U.S. financial policies.
Officials say he improperly accessed and passed along proprietary data sets, details about tariffs targeting China, and reports on Federal Open Market Committee decisions.
Law enforcement alleges Rogers met with his co-conspirators in China under the guise of teaching classes.
During these meetings in hotel rooms, he reportedly conveyed trade secrets and other sensitive financial information meant for the FRB and its leadership.
A former senior advisor to the Federal Reserve, John Harold Rogers, has been arrested for allegedly conspiring to steal trade secrets for the benefit of the People's Republic of China.
While in China, he secretly shared the stolen information during secret meetings in hotel… pic.twitter.com/LkpD5LpgBd
— Shadow of Ezra (@ShadowofEzra) January 31, 2025
U.S. Attorney Edward R. Martin, Jr. stated that this type of betrayal would not go unnoticed, warning that those who endanger American interests will be brought to justice.
Former Senior Adviser for the Federal Reserve Indicted on Charges of Economic Espionage https://t.co/5XLqlbwXwc@FBIWFO @OIGFedCFPB pic.twitter.com/7Fc3GAliZu
— U.S. Attorney DC (@USAO_DC) January 31, 2025
FBI Assistant Director in Charge David Sundberg remarked that the Chinese Communist Party has been expanding its espionage efforts to weaken U.S. economic leadership.
Investigators say Rogers lied about his connections and activities when questioned in February 2020.
Commentary:
This case is deeply concerning because it suggests that China’s infiltration is more extensive than many realize.
If a senior official at the Federal Reserve was willing to hand over critical information, there is no telling how far this might go. It is troubling to imagine how many others may be tempted by financial gain or personal ties.
The possibility that individuals in high places could be working against U.S. interests demands rigorous investigations and serious consequences.
The Bottom Line:
An ex-Federal Reserve adviser stands accused of betraying U.S. financial secrets to China.
This case underscores the gravity of insider threats and the need to protect America’s economic security.
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