John Harold Rogers, a former Senior Adviser for the Federal Reserve Board of Governors, has been arrested on charges of conspiring to steal trade secrets for the benefit of China. The 63-year-old from Vienna, Virginia, is accused of making false statements that impacted an investigation by the Federal Reserve Board Office of Inspector General.
The indictment was announced by U.S. Attorney Edward R. Martin, Jr., along with officials from the Justice Department’s National Security Division and the FBI's Washington Field Office. "President Trump tasks us with protecting our fellow Americans from all enemies, foreign and domestic," said U.S. Attorney Martin. He added that Rogers allegedly used his position to pass sensitive information to China.
Devin DeBacker from the Justice Department emphasized that Rogers violated trust by sharing U.S. trade secrets with Chinese co-conspirators. “The Justice Department will continue to use all the tools at its disposal to disrupt economic espionage and protect our national security,” DeBacker stated.
FBI Assistant Director David Sundberg noted China's expanded economic espionage efforts targeting U.S. financial policies and trade secrets. "Today's indictment represents the FBI's unwavering commitment to protect U.S. national security interests," he said.
Special Agent John T. Perez stressed accountability for those misusing sensitive Federal Reserve information: “This indictment sends a clear message that those who deliberately misuse sensitive Federal Reserve information for their own personal gain and lie about it to investigators will be held accountable for their actions.”
Rogers worked as a Senior Adviser in the FRB's Division of International Finance from 2010 until 2021, where he had access to confidential information. The indictment claims he shared economically valuable data with Chinese co-conspirators posing as graduate students at a PRC university.
The allegations suggest Rogers exploited his role at the FRB since at least 2018 by soliciting proprietary economic data sets and other sensitive information related to FOMC deliberations and announcements, passing it electronically or printing it before traveling to China.
In 2023, Rogers reportedly earned $450,000 as a part-time professor at a Chinese university. On February 4, 2020, he allegedly lied during questioning about accessing sensitive information and associations with co-conspirators.
Rogers faces charges of conspiracy to commit economic espionage and making false statements. Economic espionage carries up to 15 years in prison and a $5 million fine; false statements carry up to five years in prison.
The case is under investigation by the FBI’s Washington Field Office and prosecuted by Assistant U.S. Attorney Kimberly Paschall alongside Trial Attorneys Nicholas Hunter and Stephen Marzen.
A criminal indictment is merely an allegation; defendants are presumed innocent until proven guilty beyond reasonable doubt in court.