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Ex-senior Federal Reserve advisor charged with economic espionage to benefit China By Dan Mangan, CNBC • Jan 31 2025 *A former senior advisor for the Federal Reserve was arrested on charges that he conspired to steal Fed trade secrets for the benefit of China. *The data that advisor John Harold Rogers shared with his co-conspirators could allow China to manipulate the U.S. market "in a manner similar to insider trading," the Department of Justice said. *The information Rogers allegedly sought as part of the scheme included "sensitive information about the Federal Open Market Committee," whose interest rate decisions have broad market effects.A former senior advisor for the Federal Reserve was arrested Friday on charges that he conspired to steal Fed trade secrets for the benefit of China.The data that the advisor John Harold Rogers allegedly shared with his co-conspirators could allow China to manipulate the U.S. market "in a manner similar to insider trading," according to the U.S. Attorney's Office in Washington, D.C."Gaining advance knowledge of U.S. economic policy, including advance knowledge of changes to the federal funds rate, could provide China with an advantage when selling or buying U.S. bonds or securities," the office said, noting that China holds about $816 billion of U.S. government debt.Rogers' two alleged co-conspirators were members of China's intelligence and security apparatus who posed as graduate students at a university in that country, prosecutors said. ...
Former Senior Adviser for the Federal Reserve Indicted on Charges of Economic EspionageFriday, January 31, 2025For Immediate ReleaseU.S. Attorney's Office, District of Columbia WASHINGTON – 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). ...
As long as he's found guilty by the evidence first.
Time to start holding people accountable!
