Indictment Reveals Federal Reserve Infiltrated By Chinese Espionage Network

A former high-ranking Federal Reserve adviser has been indicted for allegedly providing confidential U.S. financial data to China, exposing another case of Beijing’s aggressive espionage tactics against American institutions. Federal prosecutors charged John Harold Rogers, 63, with economic espionage and making false statements, revealing the depth of his connections to Chinese intelligence.

Rogers, who spent over a decade in the Federal Reserve’s Division of International Finance, allegedly exploited his position to access classified economic data. The indictment details how he began working with Chinese operatives in 2018 while disguising his activities under the pretense of teaching at a Chinese university. Officials say he was compensated with a $450,000 salary as part of the arrangement.

Investigators believe the stolen information, which included interest rate decisions and economic forecasts, could have been used by Beijing to gain an unfair advantage in global financial markets. “Advance knowledge of these policies could allow foreign actors to manipulate markets in their favor,” the indictment states.

Rogers also faces charges for allegedly lying to federal investigators in 2020 when questioned about his ties to China. “This indictment demonstrates our unwavering commitment to protecting American economic security from foreign threats,” said U.S. Attorney Edward R. Martin Jr.

China’s espionage efforts have increasingly focused on economic intelligence, with U.S. officials warning of a broad effort to infiltrate financial and technological institutions. “This case highlights the lengths to which China will go to undermine U.S. stability,” said FBI Assistant Director Kevin Vorndran.

As the investigation continues, national security officials are working to determine if other financial institutions have been compromised by similar espionage operations linked to Beijing.