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, allegedly made false statements to the Office of Inspector General for the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau (FRB-OIG), and those false statements had a material impact on its investigation.
“As alleged, the defendant violated the trust placed in him by the Federal Reserve Bank by putting U.S. trade secrets in the hands of his PRC co-conspirators, knowing full well that such information would benefit the PRC Government and PRC instrumentalities,” said Devin DeBacker, head of the Justice Department’s National Security Division.
“The Justice Department will continue to use all the tools at its disposal to disrupt economic espionage and protect our national security.”
“President Trump tasks us with protecting our fellow Americans from all enemies, foreign and domestic.
As alleged in the indictment, this defendant leveraged his position within the Federal Reserve to pass sensitive financial information to the Chinese government, a designated adversary,” said U.S. Attorney Edward R. Martin Jr. for the District of Columbia.
“Let this indictment serve as a warning to all who seek to betray or exploit the United States: law enforcement will find you and hold you accountable.”
“As alleged in the indictment, Rogers betrayed his country while employed at the Federal Reserve by providing restricted U.S. financial and economic information to Chinese government intelligence officers,” said Assistant Director Kevin Vorndran of the FBI Counterintelligence Division.
“This information could allow adversaries to illegally gain a strategic economic advantage at the expense of the U.S. This indictment sends a clear message that the FBI and our partners will hold accountable those who threaten our national security.”
