Federal Reserve Official Indicted In Shocking Chinese Espionage Case

A former senior adviser to the Federal Reserve has been indicted for allegedly passing sensitive U.S. financial information to Chinese intelligence agents, further exposing Beijing’s long-running efforts to infiltrate American institutions. The Justice Department announced that 63-year-old John Harold Rogers is facing charges of economic espionage and making false statements.

Rogers, who worked in the Federal Reserve’s Division of International Finance from 2010 to 2021, allegedly stole classified financial data and provided it to Chinese operatives posing as graduate students. According to the indictment, Rogers received substantial compensation—approximately $450,000—as a part-time professor at a Chinese university in exchange for his cooperation.

Prosecutors revealed that Rogers began engaging with Chinese intelligence officials in at least 2018, providing them with proprietary economic data and internal discussions on Federal Reserve policies. Authorities believe this information could have given Beijing an advantage in global markets, allowing it to manipulate U.S. bond and securities trades. “This level of access, if exploited, could be as damaging as insider trading on a national scale,” the indictment states.

The indictment also accuses Rogers of obstructing justice by lying to federal investigators in 2020. Prosecutors said his false statements disrupted the investigation and allowed him to continue passing information to his Chinese contacts. U.S. Attorney Edward R. Martin Jr. warned, “This indictment sends a clear message—betraying the United States for personal gain will not go unpunished.”

The FBI’s Washington Field Office confirmed that Rogers’ case is part of a broader Chinese effort to target U.S. government and financial institutions. “Economic espionage is a key tool in China’s global strategy,” said Assistant Director Kevin Vorndran. “This case highlights the lengths Beijing is willing to go to in order to gain an economic edge.”

With China continuing to pursue intelligence operations against the United States, authorities are now expanding efforts to track and prevent further infiltration into key government agencies. The case against Rogers is expected to shed light on the extent of Beijing’s influence within the U.S. financial system.

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