A Former Federal Reserve Senior Adviser Arrested for Leaking Sensitive Economic Data to China
John Harold Rogers, a 63-year-old Virginia resident and former senior adviser at the Federal Reserve, has been arrested on charges of leaking classified economic information to Chinese intelligence operatives. The arrest came after US prosecutors accused him of smuggling sensitive data through personal emails and hotel room meetings, under the guise of teaching “classes” to fake Chinese graduate students.
According to an indictment unsealed in a Washington, DC federal court, Rogers allegedly exploited his position at the Fed’s international finance division to access confidential details on US trade policies, tariffs, and Fed policy announcements. He then passed this information on to individuals posing as Chinese university students but allegedly connected to China’s intelligence network.
Allegations of Secret Meetings and Financial Motives
The Department of Justice claims that Rogers meticulously planned his betrayal over several years. From 2018 until his retirement in 2021, he reportedly emailed confidential Fed documents to his personal account and printed them before traveling to China. Prosecutors allege that Rogers had access to briefing books for Fed governors, classified reports on trade measures, and insider information on Federal Open Market Committee decisions.
US Attorney Edward R. Martin Jr. stated, “This defendant leveraged his position within the Federal Reserve to pass sensitive financial information to the Chinese government, a designated foreign adversary. 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.”
Rogers reportedly received $450,000 as a part-time professor at a Chinese university, which the DOJ claims was a front for his espionage activities. The indictment suggests that Rogers shared confidential data related to US-China trade tensions, including insider details on US tariffs during the Trump administration’s trade war with China.
Implications for US-China Relations and Economic Policies
China’s substantial holdings of US debt, amounting to about $768.6 billion in US Treasury bonds as of November, make them highly sensitive to changes in US economic policies. The DOJ asserts that Rogers’s leaks provided China with a significant financial advantage, enabling them to position their holdings strategically based on the Fed’s actions.
By sharing confidential information electronically and physically with Chinese officials disguised as students, Rogers allegedly facilitated China’s ability to navigate critical US decisions. The FBI’s Assistant Director in charge of the Washington field office, David Sundberg, emphasized the Chinese Communist Party’s economic espionage efforts targeting US government financial policies and trade secrets.
John T. Perez, Special Agent in Charge of Headquarters Operations, reiterated that those who misuse sensitive Federal Reserve information for personal gain and deceive investigators will face consequences for their actions. The indictment against Rogers serves as a stark reminder of the repercussions of betraying national trust and security.