Ex-Federal Reserve Advisor Arrested for Selling Secrets to China
Federal authorities have arrested John Harold Rogers, a former senior Federal Reserve advisor, charging him with selling classified economic secrets to Chinese intelligence operatives. The 63-year-old Virginia resident allegedly received $450,000 while posing as a university professor to cover his espionage activities.
Assistant Director Kevin Vorndran of the FBI Counterintelligence Division said that Rogers “betrayed his country while employed at the Federal Reserve by providing restricted U.S. financial and economic information to Chinese government intelligence officers.” Vorndran went on to say that this information “could allow adversaries to illegally gain a strategic economic advantage at the expense of the U.S.”
For over a decade, from 2010 to 2021, Rogers held a trusted position within the Federal Reserve’s Division of International Finance. This is exactly why President Trump’s tough stance on China matters. Indeed, they’ve been playing the long game while we’ve been playing catch-up.
According to court documents, Rogers met his Chinese contacts in hotel rooms under the guise of teaching university classes. (Because what legitimate professor meets students in hotel rooms?) These “students” were actually intelligence officers seeking inside information about U.S. monetary policy and market operations.
The stolen information included proprietary economic data sets, briefing books prepared for Federal Reserve governors, and details of Federal Open Market Committee deliberations. And what could China do with this stolen intelligence? Far more than most Americans realize.
The timing couldn’t be more critical. With China holding approximately $816 billion in U.S. foreign debt as of October of 2024, the potential for market manipulation poses a severe threat to America’s economic sovereignty.
Assistant Director Kevin Vorndran of the FBI Counterintelligence Division said that Rogers “betrayed his country while employed at the Federal Reserve by providing restricted U.S. financial and economic information to Chinese government intelligence officers.” Vorndran went on to say that this information “could allow adversaries to illegally gain a strategic economic advantage at the expense of the U.S.”
For over a decade, from 2010 to 2021, Rogers held a trusted position within the Federal Reserve’s Division of International Finance. This is exactly why President Trump’s tough stance on China matters. Indeed, they’ve been playing the long game while we’ve been playing catch-up.
According to court documents, Rogers met his Chinese contacts in hotel rooms under the guise of teaching university classes. (Because what legitimate professor meets students in hotel rooms?) These “students” were actually intelligence officers seeking inside information about U.S. monetary policy and market operations.
The stolen information included proprietary economic data sets, briefing books prepared for Federal Reserve governors, and details of Federal Open Market Committee deliberations. And what could China do with this stolen intelligence? Far more than most Americans realize.
The timing couldn’t be more critical. With China holding approximately $816 billion in U.S. foreign debt as of October of 2024, the potential for market manipulation poses a severe threat to America’s economic sovereignty.
70-79, M
