A former senior adviser to the Federal Reserve Board of Governors was arrested Friday on charges of economic espionage, with prosecutors alleging he stole sensitive financial data for the Chinese government.
Federal Charges and Allegations
John Rogers, who served as a senior adviser in the Federal Reserve’s Division of International Finance from 2010 to 2021, is facing charges in a D.C. federal court for conspiracy to commit economic espionage and making false statements. Prosecutors claim Rogers shared confidential information that could be used to manipulate financial markets.
“This defendant leveraged his position within the Federal Reserve to pass sensitive financial information to the Chinese government, a designated foreign adversary,” U.S. Attorney Edward Martin Jr. said in a statement.
A federal judge has ordered Rogers to remain in custody until a detention hearing scheduled for Tuesday.
Secret Communications with Chinese Intelligence
The indictment alleges that Rogers worked with two individuals linked to a Chinese intelligence agency who posed as graduate students from Shandong University of Finance and Economics.
