Indictment Unveiled In Federal Reserve Spy Case As China’s Espionage Escalates

A former high-ranking Federal Reserve adviser has been indicted for allegedly passing sensitive economic data to China, marking another alarming breach in U.S. national security. Federal prosecutors charged John Harold Rogers, 63, with conspiracy to commit economic espionage and making false statements after discovering his ties to Chinese intelligence.

Rogers, who worked for over a decade at the Federal Reserve’s Division of International Finance, allegedly exploited his position to steal trade secrets and provide critical financial data to China. Prosecutors say he began supplying information to Chinese operatives in 2018 while posing as a visiting professor at a Chinese university, where he received nearly half a million dollars in compensation.

According to the indictment, Rogers’ contacts in China were not academic peers but intelligence officers using a university as cover. The stolen information, which included proprietary economic data and internal Federal Reserve deliberations, could have allowed China to make strategic financial decisions at the expense of the United States. “Such information, when obtained by a foreign government, can be leveraged for economic manipulation, similar to insider trading,” officials said.

Beyond espionage charges, Rogers is also accused of obstructing justice by lying to investigators in 2020. Prosecutors say his false statements hindered the investigation and allowed him to continue working with his Chinese handlers for an extended period. “This indictment sends a strong message to anyone considering betraying their country,” said U.S. Attorney Edward R. Martin Jr.

China has a long history of targeting U.S. institutions, and intelligence officials warn that this case is part of a broader pattern of espionage. “The Chinese Communist Party continues to expand its intelligence operations against the United States,” said FBI Assistant Director Kevin Vorndran. “We will not allow foreign adversaries to gain a strategic advantage at our expense.”

The arrest of Rogers has renewed concerns over China’s ability to infiltrate key American agencies. With national security agencies now intensifying their focus on economic espionage, officials warn that Rogers’ case may not be the last of its kind.

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