Federal Reserve adviser charged with ‘economic espionage’ for helping China

Jan 31

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Lauren Taylor Anchor

By Lauren Taylor (Anchor), Kalé Carey (Reporter), Harry Fogle (Video Editor)

A former senior adviser for the Federal Reserve is facing charges of economic espionage and making false statements after an investigation by the FBI and the Federal Reserve Inspector General uncovered a multi-year conspiracy involving U.S. trade secrets and financial policies. John Harold Rogers, 63, allegedly used his position to funnel sensitive economic information to China’s intelligence agency.

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US attorney shares case details

In a statement, U.S. Attorney Edward Martin confirmed Rogers was arrested on Friday, Jan. 31, as part of efforts to safeguard national security interests under President Donald Trump’s directive to protect against any threats, both foreign and domestic.

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“Let this indictment serve as a warning to all who seek to betray or exploit the United States: law enforcement will find you and hold you accountable,” Martin said in the release.

Rogers’ role at the Federal Reserve

Rogers worked as a senior adviser at the Federal Reserve for more than a decade. It gave him direct access to confidential economic data. The indictment alleges he began passing this information to China’s intelligence agency in 2018. Rogers is accused of sharing details about U.S. tariffs, briefing books from governors and sensitive information about interest rate moves. He allegedly transmitted this data either by email or printed it before taking trips to China.

Two years ago, officials said Rogers earned $450,000 as a part-time professor at a Chinese university. Authorities claim Rogers used the position as a cover to meet with Chinese officials for his espionage activities.

Targeting the Federal Reserve

A 2022 report from the Homeland Security Committee revealed China has been attempting to gather intelligence from the Federal Reserve for years. However, efforts to stop these activities have been hindered by a lack of policy at the Federal Reserve. The report also claims China is using U.S. experts and talent programs to collect intelligence to replace the U.S. dollar as the world’s primary currency.

Rogers faces up to 20 years in prison for both charges and a maximum fine of $5 million.

Tags: China, Chinese Communist Party, Department of Homeland Security, Federal Reserve, People’s Republic of China, Virginia

[Lauren Taylor]

A FORMER SENIOR FEDERAL RESERVE OFFICIAL IS ACCUSED OF FUNNELING U.S. TRADE SECRETS AND FINANCIAL POLICIES TO THE CHINESE COMMUNIST PARTY, USING HIS POSITION FOR SPYING AND INTELLIGENCE GATHERING

JOHN HAROLD ROGERS WAS INDICTED ON ECONOMIC ESPIONAGE AND MAKING FALSE STATEMENTS CHARGES AFTER AN FBI AND FEDERAL RESERVE INSPECTOR GENERAL INVESTIGATION UNCOVERED A MULTI-YEAR CONSPIRACY.

IN A PRESS RELEASE, U.S. ATTORNEY EDWARD MARTIN SAID HE WAS ARRESTED ON FRIDAY TO SAFEGUARD NATIONAL SECURITY, FOLLOWING PRESIDENT TRUMP’S DIRECTIVE TO PROTECT AGAINST FOREIGN AND DOMESTIC THREATS.

SAYING: “Let this indictment serve as a warning to all who seek to betray or exploit the United States: law enforcement will find you and hold you accountable.”

ROGERS SPENT OVER A DECADE AS A SENIOR ADVISER AT THE FEDERAL RESERVE, GAINING DIRECT ACCESS TO TOP-SECRET ECONOMIC INFO. ACCORDING TO THE INDICTMENT, HE STARTED SHARING THAT DATA WITH CHINA’S INTELLIGENCE AGENCY IN 2018.

THE 63-YEAR-OLD ALLEGEDLY PASSED ALONG DETAILS ABOUT TARIFFS, GOVERNORS’ BRIEFING BOOKS AND INFO FROM THE COMMITTEE RESPONSIBLE FOR INTEREST RATES, EITHER EMAILING IT OR PRINTING IT BEFORE HIS TRIPS TO CHINA.

OFFICIALS SAY ROGERS EARNED NEARLY HALF A MILLION DOLLARS TWO YEARS AGO AS A PROFESSOR AT A CHINESE UNIVERSITY, USING THE JOB AS COVER TO MEET WITH CHINESE OFFICIALS.

A 2022 REPORT FROM THE HOMELAND SECURITY COMMITTEE REVEALS CHINA HAS BEEN TARGETING THE FEDERAL RESERVE FOR YEARS, WITH LITTLE SUCCESS IN STOPPING THEM DUE TO A LACK OF POLICY.

THE REPORT CLAIMS CHINA IS USING U.S. EXPERTS AND TALENT PROGRAMS TO GATHER INTEL IN A BID TO OUST THE U.S. DOLLAR AS THE WORLD’S MAIN CURRENCY.

ROGERS FACES UP TO 20 YEARS IN PRISON FOR BOTH CHARGES AND A MAXIMUM FINE OF FIVE MILLION DOLLARS.

FOR STRAIGHT ARROW NEWS, I’M LAUREN TAYLOR