Former Fed Senior Adviser John Rogers Arrested, Leaked Trade Secrets to China

Formal Fed elder advisor John Rodgers was arrested Friday for allegedly leaking commercialized secrets to China. Washington DC’s territory lawyer revealed successful a press release that Rodgers, 63, is charged with conspiring to bargain Federal Reserve commercialized secrets for the payment of the People’s Republic of China.

JUST IN: Former Senior Adviser to the Federal Reserve John Rogers arrested for leaking commercialized secrets to China.

The DA says the erstwhile Fed elder advisor allegedly made mendacious statements to the Fed Board Office of Inspector General. Those mendacious statements had a worldly interaction connected its investigation, the DA says. “The indictment, unsealed today, was announced by U.S. Attorney Edward R. Martin, Jr., FBI Assistant Director successful Charge David Sundberg of the Washington Field Office, and John T. Perez, Special Agent successful Charge, Headquarters Operations, Office of Inspector General for the Board of Governors of the Federal Reserve System and Consumer Financial Protection Bureau (FRB-CFPB OIG).”

U.S. Attorney Edward R. Martin, Jr. says that this apprehension should beryllium seen arsenic a informing to different imaginable overseas conspirators of treason. “President Trump tasks america with protecting our chap Americans from each enemies, overseas and domestic. As alleged successful the indictment, this suspect leveraged his presumption wrong the Federal Reserve to walk delicate fiscal accusation to the Chinese government, a designated overseas adversary,” helium says. “Let this indictment service arsenic a informing to each who question to betray oregon exploit the United States: instrumentality enforcement volition find you and clasp you accountable.”

“The Chinese Communist Party has expanded its economical espionage run to people U.S. authorities fiscal policies and commercialized secrets to undermine the U.S. and go the sole superpower,” said FBI Assistant Director successful Charge David Sundberg. “Today’s indictment represents the FBI’s unwavering committedness to support U.S. nationalist information interests and U.S. jobs and to bring to justness those who are consenting to betray their state for idiosyncratic gain.”

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What the Indictment Alleges

Rogers worked arsenic a Senior Adviser successful the Division of International Finance of the FRB from 2010 until 2021. There, helium was entrusted with confidential FRB information. The confidential accusation that Rogers allegedly shared with his Chinese co-conspirators, who worked for the quality and information apparatus of China and who posed arsenic postgraduate students astatine a PRC university, is economically invaluable erstwhile secret.

Furthermore, the indictment alleges that from astatine slightest 2018, Rogers allegedly exploited his employment with the FRB by soliciting trade-secret accusation regarding proprietary economical information sets, deliberations astir tariffs targeting China, briefing books for designated governors, and delicate accusation astir Federal Open Market Committee (FOMC) deliberations and forthcoming announcements. He passed that accusation electronically to his idiosyncratic email, successful usurpation of FRB argumentation successful mentation for meetings with his co-conspirators. Under the guise of teaching “classes,” Rogers met with his co-conspirators successful edifice rooms successful China wherever helium conveyed sensitive, trade-secret accusation that belonged to the FRB and the FOMC. In 2023, Rogers was paid astir $450,000 arsenic a part-time prof astatine a Chinese university.

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The erstwhile Fed elder advisor was arrested Friday afternoon. Rogers is charged with conspiracy to perpetrate economical espionage and with making mendacious statements. Conspiracy to perpetrate economical espionage carries a maximum punishment of 15 years successful situation and a $5 cardinal fine. The lawsuit remains nether investigation.