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A former senior adviser to the Federal Reserve has been arrested for leaking U.S. trade secrets to China.
John Rogers is being charged with using his position to spy for China for 12 years, between 2010-2021.
JUST IN:
Former Senior Adviser to the Federal Reserve John Rogers arrested for leaking trade secrets to China.
— Watcher.Guru (@WatcherGuru) January 31, 2025
Former Senior Adviser to the Federal Reserve John Rogers arrested for leaking trade secrets to China.Rogers allegedly handed over confidential info to his Chinese co-conspirators, according to a report from the Reuters news agency:
A former senior advisor to the Federal Reserve, John Harold Rogers, was arrested on charges he conspired to steal Fed trade secrets for the benefit of the People’s Republic of China, the Justice Department announced Friday.
Rogers, who worked as a senior adviser in the Fed’s division of international finance from 2010 until 2021, allegedly shared confidential information with Chinese co-conspirators. He is charged with conspiracy to commit economic espionage and with making false statements.
The U.S. Justice Department released the information on its website, indicating that Rogers allegedly made false statements impacting the investigation.
That sounds like he didn’t just spy, but he engaged in obstruction after the fact in order to hide it once an investigation was underway.
BREAKING: The DOJ just indicted Former Senior Adviser for the Federal Reserve, John Harold Rogers, for leaking US trade secrets to China. pic.twitter.com/mly5ElsWXQ
— Libs of TikTok (@libsoftiktok) January 31, 2025
Here’s a little more detail from the DOJ website about the case:
John Harold Rogers, 63, of Vienna, Virginia, a former Senior Adviser for the Federal Reserve Board of Governors (FRB), was arrested today on charges that he conspired to steal Federal Reserve trade secrets for the benefit of the People’s Republic of China (PRC).
In furtherance of the conspiracy, Rogers allegedly made false statements to the Federal Reserve Board Office of Inspector General, and those false statements had a material impact on its investigation.
The indictment, unsealed today, was announced by U.S. Attorney Edward R. Martin, Jr., Supervisory Official Devin DeBacker of the Justice Department’s National Security Division, FBI Assistant Director in Charge David Sundberg of the Washington Field Office, and John T. Perez, Special Agent in Charge, Headquarters Operations, Office of Inspector General for the Board of Governors of the Federal Reserve System and Consumer Financial Protection Bureau (FRB-CFPB OIG).
According to the indictment, Rogers, a U.S. citizen with a Ph.D. in Economics, worked as a Senior Adviser in the Division of International Finance of the FRB from 2010 until 2021, where he was entrusted with confidential FRB information. The confidential information that Rogers allegedly shared with his Chinese co-conspirators, who worked for the intelligence and security apparatus of China and who posed as graduate students at a PRC university, is economically valuable when secret.
Rogers is facing up to 15 years in jail for his alleged crimes.
He allegedly solicited confidential info — including sensitive economic information concerning interest rate deliberations — in 2018, according to a story in US News & World Report:
A judge ordered Rogers to be held until a detention hearing next Tuesday, according to a U.S. Attorney’s office spokesperson.
The Fed’s international finance division is responsible for basic research, policy analysis, and reporting in the areas of foreign economic activity, U.S. external trade and capital flows, and developments in international financial markets and institutions, according to the U.S. central bank’s website.
Starting in 2018, Rogers allegedly began soliciting confidential information including economic data and sensitive information about interest-rate deliberations, and then passed it on to co-conspirators while pretending to teach classes in China, according to the indictment.
Rogers received payments for airfare, lodging and dining during his travel to China, and was offered a payment for a beach vacation, the indictment said.
He is charged with conspiracy to commit economic espionage and with making false statements.
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
This is breaking news. We will bring you updates as more information becomes available.
This is a Guest Post from our friends over at WLTReport.