Federal Reserve Infiltration Leads To Indictment In Chinese Espionage Case

A former senior Federal Reserve adviser has been indicted for allegedly leaking sensitive financial information to Chinese operatives, exposing yet another case of Beijing’s deepening espionage against the United States. Federal prosecutors charged John Harold Rogers, 63, with economic espionage and making false statements after uncovering his years-long ties to Chinese intelligence networks.

Rogers, who worked in the Federal Reserve’s Division of International Finance from 2010 to 2021, allegedly used his position to access confidential data that could give China an economic advantage. According to the indictment, he began funneling trade secrets to Chinese contacts in 2018, using his role as a part-time professor at a Chinese university to conceal his activities. Officials say he was compensated with a $450,000 salary while sharing classified insights into U.S. economic policy.

The indictment details how Rogers’ contacts were not students, as he had claimed, but individuals connected to China’s intelligence and security agencies. Authorities say the stolen data, including information on Federal Reserve policies, could have enabled Beijing to manipulate U.S. financial markets. “Gaining advance knowledge of U.S. economic policy, including changes to interest rates, could allow China to make strategic economic moves similar to insider trading,” prosecutors stated.

Investigators also allege that Rogers misled federal agents during a 2020 interview, attempting to cover up his connections with Chinese intelligence. U.S. Attorney Edward R. Martin Jr. emphasized the gravity of the situation, stating, “Let this indictment serve as a warning to those who would betray the United States. Law enforcement will find you and hold you accountable.”

The FBI has long warned about China’s aggressive efforts to infiltrate American institutions. “As alleged in the indictment, Rogers betrayed his country by providing restricted financial and economic information to Chinese government intelligence officers,” said Assistant Director in Charge David Sundberg.

The case underscores Beijing’s continued attempts to steal U.S. economic and trade secrets. While Rogers now faces trial, intelligence agencies remain on high alert for other infiltrators operating within critical U.S. financial and government institutions.

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