John Harold Rogers, 63, of Vienna, Virginia, a former Senior Adviser for the Federal Reserve Board of Governors (FRB), was arrested today on charges that he conspired to steal Federal Reserve trade secrets for the benefit of the People's Republic of China (PRC). In furtherance of the conspiracy, Rogers allegedly made false statements to the Federal Reserve Board Office of Inspector General, and those false statements had a material impact on its investigation. The indictment, unsealed today, was announced by U.S. Attorney Edward R. Martin, Jr., Supervisory Official Devin DeBacker of the Justice Department's National Security Division, FBI Assistant Director in Charge David Sundberg of the Washington Field Office, and John T. Perez, Special Agent in 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).

According to the Justice Department, John Harold Rogers received almost $450,000 from Fudan University in Shanghai, China. He was also paid for his flights, hotel, and meals while in China, and even given money for a beach holiday.

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-- Igor Sushko (@igorsushko.bsky.social) January 31, 2025 at 5:29 PM