John Harold Rogers, a former Senior Adviser for the Federal Reserve Board of Governors, has been indicted on charges of economic espionage. The 63-year-old from Vienna, Virginia, is accused of conspiring to steal trade secrets from the Federal Reserve to benefit the People's Republic of China. Rogers allegedly made 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., Supervisory Official Devin DeBacker of the Justice Department’s National Security Division, FBI Assistant Director in Charge David Sundberg of the Washington Field Office, and John T. Perez, Special Agent in Charge at the FRB-CFPB OIG.

U.S. Attorney Martin stated: "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 foreign adversary." He added that law enforcement would hold accountable those who betray or exploit the United States.

Devin DeBacker commented: “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.” He emphasized that efforts would continue to disrupt economic espionage and protect national security.

FBI Assistant Director David Sundberg noted: “The Chinese Communist Party has expanded its economic espionage campaign to target U.S. government financial policies and trade secrets.” He affirmed that today's indictment reflects a commitment to protect national security interests and jobs.

John T. Perez remarked: “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 International Finance at FRB from 2010 until 2021 and was entrusted with confidential information. The indictment alleges he shared economically valuable information with Chinese co-conspirators posing as graduate students at a PRC university.

China's significant holding of U.S. foreign debt could allow manipulation similar to insider trading using advanced knowledge from Rogers' data sharing. From at least 2018, Rogers allegedly solicited proprietary economic data sets and passed them electronically or physically before traveling to China for meetings under teaching pretexts.

In 2023, Rogers reportedly earned $450,000 as a part-time professor at a Chinese university. In February 2020, he allegedly lied during questioning about his activities.

Rogers faces charges of conspiracy to commit economic espionage and making false statements; these carry maximum penalties of up to 15 years in prison and fines up to $5 million.

The case is being investigated by FBI’s Washington Field Office and FRB's Office of Inspector General and prosecuted by Assistant U.S. Attorney Kimberly Paschall alongside Trial Attorneys Nicholas Hunter and Stephen Marzen.

It is important to note that an indictment is merely an allegation; defendants are presumed innocent until proven guilty beyond reasonable doubt in court.