Former Federal Reserve adviser paid by Chinese Communist Party for Sensitive Financial Data

WASHINGTON — A former senior adviser to the Federal Reserve Board of Governors was indicted Friday on charges of conspiring to steal U.S. economic trade secrets for the benefit of the Chinese government, federal prosecutors said.

John Harold Rogers, 63, of Vienna, Virginia, was arrested and charged with passing sensitive financial data to Chinese intelligence officers while employed at the Federal Reserve from 2010 to 2021. Prosecutors allege Rogers shared confidential economic policy information that could have given China a strategic financial advantage in global markets.

According to the indictment, Rogers communicated with Chinese intelligence operatives who posed as graduate students. He allegedly transferred restricted Federal Reserve data to his personal email and printed materials before traveling to China for meetings. The stolen information, including proprietary economic data and Federal Open Market Committee deliberations, could have allowed China to manipulate U.S. markets and financial policies.

Federal officials described the case as a serious national security breach. “This indictment sends a clear message that the FBI and our partners will hold accountable those who threaten our national security,” said FBI Assistant Director Kevin Vorndran.

Rogers faces multiple charges related to economic espionage and false statements to federal investigators. If convicted, he could face significant prison time.