John Harold Rogers, a 63-year-old former Senior Adviser for the Federal Reserve, was arrested for allegedly conspiring to steal trade secrets for the People's Republic of China. He is accused of making false statements to investigators, which affected their inquiries. The Justice Department claims that Rogers violated the trust placed in him by providing sensitive information to associates in China, which could benefit the Chinese government.
The indictment warns that law enforcement will hold accountable those who betray the U. S. for personal gain. Rogers is charged with using his position to pass sensitive financial information to Chinese intelligence officers, which could give China an unfair economic advantage. This action is viewed as a serious threat to national security.
Rogers is a U. S. citizen with a Ph. D. in economics and worked at the Federal Reserve from 2010 to 2021. He is said to have shared valuable economic information with individuals posing as students at a Chinese university. This information could allow China to manipulate U. S. markets like insider trading, particularly regarding changes in U. S. economic policies.
The indictment details that he solicited trade-secret information concerning economic data, tariff discussions, and Federal Open Market Committee deliberations. Rogers reportedly sent sensitive information to his personal email or printed it before traveling to China, where he met with co-conspirators under the guise of teaching. He received approximately $450,000 for his work as a part-time professor at a Chinese university in 2023.
When questioned by investigators, Rogers lied about accessing sensitive information and his connections with his co-conspirators. He is charged with conspiracy to commit economic espionage and making false statements. The FBI and the Federal Reserve's Office of Inspector General are investigating the case, and it is being prosecuted by the U. S. Attorney's Office.
An indictment is just an allegation, and defendants are innocent until proven guilty in court.
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