Ex-Federal Reserve Adviser Arrested for Allegedly Stealing U.S. Trade Secrets for China
Washington, D.C. — The U.S. Department of Justice (DOJ) announced on Friday that former Senior Adviser for the Federal Reserve Board of Governors (FRB), John Rogers, has been arrested on charges of stealing American trade secrets and sharing them with China.
Rogers, 63, a U.S. citizen with a PhD in economics, is accused of using confidential information he had access to while working with the FRB to help China manipulate U.S. financial markets. The DOJ alleges that he provided this information to Chinese intelligence personnel, enabling them to trade U.S. bonds ahead of federal interest rate decisions — a practice similar to insider trading.
The DOJ further claims that Rogers traveled to China, where he shared this sensitive data. In 2023, a Chinese university reportedly paid him $450,000 to work as a part-time professor. Rogers is also accused of lying to investigators, obstructing the investigation into his actions, which had a significant impact on the case.
Rogers now faces charges of conspiracy to commit economic espionage and making false statements to federal investigators. The DOJ's statement emphasized the seriousness of the charges and warned those who may attempt to betray the U.S. for foreign interests.
U.S. Attorney for the District of Columbia, Edward Martin Jr., emphasized that the Department of Justice is committed to protecting Americans from both foreign and domestic threats. "Let this indictment serve as a warning to all who seek to betray or exploit the United States: law enforcement will find you and hold you accountable," Martin said.
The Federal Reserve’s Special Agent in Charge, John Perez, also spoke out about the case, stressing that individuals who misuse sensitive Federal Reserve information for personal gain will face consequences.
The arrest follows heightened tensions between the U.S. and China, with President Trump announcing a 10% tariff on Chinese goods in response to the ongoing fentanyl crisis, which the U.S. blames on Chinese sources. The Chinese government has indicated it will take countermeasures to protect its interests in response to the tariff.
This case underscores the ongoing concerns over economic espionage and the manipulation of financial markets by foreign powers.
