Ex-Federal Reserve Adviser Rogers Arrested for Allegedly Sharing Trade Secrets with China

Ex-Federal Reserve Adviser Rogers Arrested for Allegedly Sharing Trade Secrets with China

WASHINGTON, Jan 31 (Reuters) – John Harold Rogers, a former senior adviser to the U.S. Federal Reserve, was arrested on charges of conspiring to steal trade secrets from the Fed and provide them to China, the Justice Department announced on Friday.

Rogers, who worked in the Federal Reserve’s division of international finance from 2010 until 2021, is accused of passing confidential information to Chinese co-conspirators who were allegedly affiliated with China’s intelligence and security services, and who posed as graduate students.

A judge has ordered Rogers to remain in custody until a detention hearing scheduled for next Tuesday, according to a spokesperson for the U.S. Attorney’s office. The Federal Reserve declined to comment on the matter. Rogers’ attorney has not yet responded to a request for comment.

A spokesperson for the Chinese Embassy in Washington stated that they were unfamiliar with the specifics of the case, but emphasized that China is a country that upholds the rule of law. The spokesperson also added that China does not interfere in the internal affairs of other nations and opposed any accusations targeting China with allegations of "spy risks."

The Fed’s international finance division, where Rogers worked, is responsible for conducting research and analysis on foreign economic activity, U.S. trade and capital flows, and international financial markets and institutions.

According to the indictment, Rogers allegedly began soliciting sensitive information starting in 2018, including economic data and details about interest-rate discussions. He is accused of sending this information to his co-conspirators while pretending to be teaching classes in China. In exchange, Rogers received benefits such as airfare, lodging, dining expenses for his travel to China, and was offered payment for a beach vacation.

Rogers faces charges of conspiracy to commit economic espionage and making false statements.

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