Indictment Exposes Federal Reserve Infiltration By Chinese Intelligence

A former high-level adviser at the Federal Reserve has been indicted for allegedly leaking classified economic data to Chinese intelligence officers, highlighting an alarming breach in U.S. financial security. The Department of Justice announced that John Harold Rogers, 63, faces charges of economic espionage and making false statements related to his covert dealings with Beijing.

Rogers worked in the Federal Reserve’s Division of International Finance for over a decade, giving him direct access to sensitive financial data and policy decisions. Prosecutors say that beginning in 2018, he secretly provided this information to Chinese operatives under the cover of teaching at a Chinese university. The indicted filing states that he was paid approximately $450,000 for his cooperation.

Authorities allege that Rogers’ Chinese contacts were not legitimate academics but intelligence agents posing as students. The information he supplied reportedly included internal Federal Reserve deliberations, economic forecasts, and policy shifts that could have allowed China to gain a significant advantage in financial markets. “The economic impact of this type of espionage is comparable to insider trading on an international scale,” prosecutors stated.

In addition to espionage charges, Rogers is accused of obstructing justice by lying to investigators in 2020 about his involvement with Chinese officials. “This indictment reflects the Justice Department’s unwavering stance against foreign espionage targeting American institutions,” said U.S. Attorney Edward R. Martin Jr.

The FBI has emphasized that this case is part of a larger Chinese effort to infiltrate key U.S. sectors, including financial agencies. “China’s focus on economic espionage is a serious threat to U.S. stability,” said FBI Assistant Director David Sundberg. “We will continue to identify and disrupt those who compromise national security.”

As the investigation into Rogers’ activities continues, federal officials are looking into whether similar breaches have occurred in other financial institutions. The extent of Beijing’s infiltration into U.S. economic systems remains a top concern for national security experts.