
A former Senior Adviser for the Federal Reserve Board of Governors has been arrested for allegedly conspiring with Chinese officials to steal trade secrets, potentially compromising U.S. economic security.
At a Glance
- John Harold Rogers, 63, charged with economic espionage for China
- Accused of sharing sensitive Federal Reserve data with Chinese intelligence officers
- Allegedly received $450,000 in 2023 as a part-time Professor at a Chinese university
- Indictment claims Rogers exploited his position to pass information over seven years
- Case underscores vulnerabilities in protecting U.S. economic intelligence
Former Federal Reserve Adviser Charged with Economic Espionage
The U.S. Department of Justice has indicted John Harold Rogers, a former Senior Adviser for the Federal Reserve Board of Governors, on charges of economic espionage. Rogers is accused of collaborating with Chinese officials to obtain and share trade secrets from the Fed’s Board of Governors and Open Market Committee, potentially compromising America’s economic security.
According to the indictment, Rogers allegedly provided economic data sets and briefing books intended for Fed Board Governors to Chinese intelligence and security officers posing as graduate students. This sensitive information included proprietary economic data, tariff deliberations, and Federal Open Market Committee information.
"In 2023, Rogers was paid approximately $450,000 as a part-time professor at a Chinese university." Not suspicious at all. https://t.co/g5hrepa6ds
— Lawrence H. White (@lawrencehwhite1) February 1, 2025
The indictment claims that Rogers met with co-conspirators in China under the pretense of teaching classes, where he shared sensitive information in hotel rooms. His involvement with Chinese officials allegedly spanned about seven years, from 2018 to early 2023.
“Under the guise of teaching ‘classes,’ Rogers would meet with co-conspirators in hotel rooms in China where he would convey sensitive, trade-secret information,” the indictment states.
Wow…
If it happened once, how many others have done the same?
In a startling revelation, it was reported that Rogers received approximately $450,000 in 2023 for his role as a part-time Professor at a Chinese university. This substantial sum raises questions about the motivations behind his alleged actions and the extent of his involvement with Chinese officials.
Implications for National Security
The Justice Department has since stressed the seriousness of economic espionage and the threat it poses to national security. U.S. Attorney Edward R. Martin Jr. highlighted the gravity of the situation, stating, “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 adversary.”
The case underscores the ongoing challenges faced by U.S. institutions in safeguarding sensitive economic information from foreign threats. It also highlights the need for increased vigilance and stronger security measures to protect America’s economic interests from potential espionage activities.
Rogers appeared in a Washington, D.C. federal courtroom and was detained for three days, with an arraignment and detention hearing scheduled for the following week. He is charged with conspiracy to commit economic espionage and making false statements to the Office of Inspector General, which impacted their investigation.