Former Federal Reserve senior advisor John Harold Rogers was arrested Friday on charges that he conspired to steal United States trade secrets on behalf of the People’s Republic of China. Rogers served as a senior advisor in the American central bank’s international finance division from 2010 until 2021.
“President Trump tasks us with protecting our fellow Americans from all enemies, foreign and domestic. As alleged in the indictment, this defendant leveraged his position within the Federal Reserve to pass sensitive financial information to the Chinese government, a designated foreign adversary,” U.S. Attorney Edward R. Martin, Jr. said in a statement announcing the arrest and indictment.
Federal Bureau of Investigation (FBI) Assistant Director in Charge David Sundberg added: “The Chinese Communist Party has expanded its economic espionage campaign to target U.S. government financial policies and trade secrets in an effort to undermine the U.S. and become the sole superpower.”
The indictment states that during his 11-year tenure at the Federal Reserve, Rogers—who holds a Ph.D. in Economics—leveraged his position to access sensitive Federal Reserve information and data that was subsequently shared with his Chinese co-conspirators. According to the allegations, from 2018 to 2021, Rogers worked with agents representing the Chinese government’s intelligence and security agencies.
Additionally, the Department of Justice’s announcement states the information shared with the Chinese by Rogers could allow the Chinese Communist Party (CCP) to manipulate U.S. economic markets and engage in activities similar to insider trading. Consequently, it is believed the Chinese may have used this information to dictate their decisions regarding the purchase and sale of U.S. bonds and securities.
Chinese espionage became rampant under the Biden government.
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