Ex-Fed Adviser Caught in Espionage Scheme

John Harold Rogers, a former adviser to the U.S. Federal Reserve, was arrested for allegedly conspiring to steal trade secrets for China. Rogers reportedly shared confidential Fed information with Chinese contacts. The indictment accuses him of economic espionage, citing travel and monetary benefits for his cooperation.

A former senior adviser to the U.S. Federal Reserve, John Harold Rogers, has been arrested on charges of conspiring to steal Fed trade secrets for the benefit of China, according to an announcement by the Justice Department on Friday.

Rogers served as a senior adviser in the Fed's division of international finance between 2010 and 2021. He allegedly exchanged confidential information with co-conspirators connected to the Chinese intelligence service, who posed as graduate students. A U.S. judge has ordered Rogers to be detained pending a hearing scheduled for next Tuesday, stated a spokesperson from the U.S. Attorney's Office.

The Federal Reserve has declined to make any comments, and an attorney representing Rogers has not responded to requests for comment. Meanwhile, a spokesperson from the Chinese Embassy claimed they were unaware of the case details but reiterated China's opposition to interference in other countries' affairs, dismissing espionage claims as baseless.