{"id":107174,"date":"2025-02-01T08:05:31","date_gmt":"2025-02-01T14:05:31","guid":{"rendered":"https:\/\/milesfortis.com\/?p=107174"},"modified":"2025-02-01T08:05:31","modified_gmt":"2025-02-01T14:05:31","slug":"107174","status":"publish","type":"post","link":"https:\/\/milesfortis.com\/?p=107174","title":{"rendered":""},"content":{"rendered":"

Former Federal Reserve Adviser Indicted on Espionage Charges<\/a><\/p>\n

Acting U.S. Attorney for the District of Columbia Ed Martin announced Friday that the Department of Justice has indicted a former senior adviser for the Federal Reserve on espionage charges.<\/p>\n

Sixty-three-year-old John Harold Rogers of Virginia was arrested Friday and charged with conspiracy to commit economic espionage and with making false statements. Rogers allegedly conspired to steal FRB trade secrets in order to aid China.<\/p>\n

<\/p>\n

From the DOJ\u00a0website<\/a>:<\/p>\n

\n

WASHINGTON \u2013 \u00a0John Harold Rogers, 63, of Vienna, Virginia, a former Senior Adviser for the Federal Reserve Board of Governors (FRB), was arrested today on charges that he conspired to steal Federal Reserve trade secrets for the benefit of the People\u2019s Republic of China (PRC).<\/strong><\/span><\/p>\n

In furtherance of the conspiracy, Rogers allegedly made false statements to the Federal Reserve Board Office of Inspector General, and those false statements had a material impact on its investigation.<\/strong><\/span><\/p>\n

The indictment, unsealed today, was announced by U.S. Attorney Edward R. Martin, Jr., \u00a0FBI Assistant Director in Charge David Sundberg of the Washington Field Office, and John T. Perez, Special Agent in Charge, Headquarters Operations, Office of Inspector General for the Board of Governors of the Federal Reserve System and Consumer Financial Protection Bureau (FRB-CFPB OIG).<\/strong><\/span><\/p>\n

\u201cPresident 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,\u201d said U.S. Attorney Martin. \u201cLet 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.\u201d<\/strong><\/span><\/p><\/blockquote>\n

\u201cThe 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,\u201d said FBI Assistant Director in Charge David Sundberg. \u201cToday’s indictment represents the FBI’s unwavering commitment to protect U.S. national security interests and U.S. jobs and to bring to justice those who are willing to betray their country for personal gain.\u201d<\/strong><\/span><\/p>\n

…<\/strong><\/span><\/p>\n

According to the indictment, Rogers, a U.S. citizen with a Ph.D. in Economics, worked as a Senior Adviser in the Division of International Finance of the FRB from 2010 until 2021, where he was entrusted with confidential FRB information.\u00a0The confidential information that Rogers allegedly shared with his Chinese co-conspirators, who worked for the intelligence and security apparatus of China and who posed as graduate students at a PRC university, is economically valuable when secret.<\/strong><\/span><\/p>\n

China holds a large amount of U.S. foreign debt (approximately $816 billion as of October 2024). The data Rogers shared with his co-conspirators could allow China to manipulate the U.S. market, in a manner similar to insider trading. Gaining advance knowledge of U.S. economic policy, including advance knowledge of changes to the federal funds rate, could provide China with an advantage when selling or buying U.S. bonds or securities.<\/strong><\/span><\/p>\n

The indictment alleges that from at least 2018, Rogers allegedly exploited his employment with the FRB by soliciting trade-secret information regarding proprietary economic data sets, deliberations about tariffs targeting China, briefing books for designated governors, and sensitive information about Federal Open Market Committee (FOMC) deliberations and forthcoming announcements. He passed that information electronically to his personal email account, in violation of FRB policy, or printed it prior to traveling to China, in preparation for meetings with his co-conspirators. \u00a0Under the guise of teaching \u201cclasses,\u201d Rogers met with his co-conspirators in hotel rooms in China where he conveyed sensitive, trade-secret information that belonged to the FRB and the FOMC.<\/strong><\/span><\/p>\n

In 2023,\u00a0Rogers was paid approximately $450,000 USD as a part-time professor at a Chinese university.<\/strong><\/span><\/p>\n

On February 4, 2020, in response to questioning by the Office of the Inspector General for the Federal Reserve Board, Rogers lied about his accessing and passage of sensitive information and his associations with his co-conspirators.<\/strong><\/span><\/p>\n

Rogers is charged with conspiracy to commit economic espionage and with making false statements. Conspiracy to commit economic espionage carries a maximum statutory penalty of 15 years in prison, and a maximum fine of $5 million. Making false statements carries a maximum statutory penalty of five years in prison.<\/strong><\/span><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

Former Federal Reserve Adviser Indicted on Espionage Charges Acting U.S. Attorney for the District of Columbia Ed Martin announced Friday that the Department of Justice has indicted a former senior adviser for the Federal Reserve on espionage charges. Sixty-three-year-old John Harold Rogers of Virginia was arrested Friday and charged with conspiracy to commit economic espionage … Continue reading “”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,9,49],"tags":[],"class_list":["post-107174","post","type-post","status-publish","format-standard","hentry","category-bureaucraps","category-enemies-foreign-domestic","category-espionage"],"_links":{"self":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts\/107174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=107174"}],"version-history":[{"count":1,"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts\/107174\/revisions"}],"predecessor-version":[{"id":107175,"href":"https:\/\/milesfortis.com\/index.php?rest_route=\/wp\/v2\/posts\/107174\/revisions\/107175"}],"wp:attachment":[{"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=107174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=107174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/milesfortis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=107174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}