(ProsperNews.net) – A former Federal Reserve advisor is facing serious charges of economic espionage, threatening national security as he stands accused of sharing U.S. trade secrets with China.
At a Glance
- John Harold Rogers indicted for allegedly passing U.S. economic data to China.
- Allegations span from 2018 to early 2023, including tariff and Fed data.
- Prosecution underscores national security threats from economic espionage.
- Arraignment and hearing set; Rogers remains innocent until proven guilty.
Federal Reserve Advisor Accused of Espionage
John Harold Rogers, a former senior advisor for the Federal Reserve Board of Governors, has been indicted on charges of economic espionage. Prosecutors allege that he conspired with Chinese officials to steal sensitive trade secrets and economic data. These accusations have raised significant concerns about vulnerabilities in U.S. economic intelligence systems. Investigations are ongoing by the FBI and the Federal Reserve’s Office of Inspector General.
Prosecutors accuse Rogers of collaborating with Chinese contacts disguised as graduate students to access confidential information. This data included comprehensive details about tariffs and Federal Open Market Committee deliberations. Rogers met with co-conspirators both digitally and during his visits to China. These meetings reportedly took place over several years, with sensitive information being exchanged in private settings.
“A former senior advisor for the Federal Reserve was arrested on charges that he conspired to steal Fed trade secrets for the benefit of China…”
Source: https://t.co/d6nZjn49HK
— Gold Telegraph ⚡ (@GoldTelegraph_) February 1, 2025
Financial Gains and Travels
The indictment outlines allegations that Rogers received significant financial compensation for his roles relating to these charges. In 2023, he reportedly earned approximately $450,000 as a part-time professor at a Chinese university. Prosecutors assert that these travels provided opportunities to hand over U.S. trade secrets. Economic data was allegedly transferred through digital channels and direct handoffs during his trips.
“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” – U.S. Attorney Edward R. Martin Jr.
Meeting locations were carefully chosen to avoid detection, often in hotel rooms in China. The information passed along was economically valuable due to its confidentiality, increasing concerns about the potential impact on U.S. markets.
“John Rogers, a former Senior Adviser for the Federal Reserve Board of Governors was arrested on charges that he conspired to steal Federal Reserve trade secrets for the benefit of the People’s Republic of China”
When the folks at the Fed work for China, we are in deep trouble pic.twitter.com/eCAcN1Q0B6
— Phil Holloway ✈️ (@PhilHollowayEsq) January 31, 2025
Legal Proceedings and National Security Concerns
Rogers recently appeared in a Washington, D.C. federal courtroom. His arraignment and detention hearing are scheduled for the upcoming week. He remains detained, and his legal proceedings underscore the gravity of the charges. Prosecutors emphasize the national security risks posed by economic espionage, which threatens the integrity of U.S. economic systems.
“As alleged, the defendant violated the trust placed in him by the Federal Reserve Bank by putting U.S. trade secrets in the hands of his PRC co-conspirators, knowing full well that such information would benefit the PRC Government and PRC instrumentalities” – Devin DeBacker.
The Justice Department has underscored the seriousness of these allegations, marking this case as a critical issue in protecting national interests. The indictment remains an allegation, and Rogers, like any individual facing accusations, has the right to due process.
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