Former Federal Reserve Bank Senior Adviser Indicted for Economic Espionage

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).

Rogers, whose tenure with the Fed's international finance division spanned from 2010 to 2021, allegedly divulged sensitive information to collaborators in China. 

In furtherance of the conspiracy, Rogers allegedly made false statements to the Federal Reserve Board Office of Inspector General, and those false statements had a material impact on its investigation.

The indictment, unsealed today, was announced by U.S. Attorney Edward R. Martin, Jr., FBI Assistant Director in Charge David Sundberg of the Washington Field Office, and John T. Perez, Special Agent in Charge, Headquarters Operations, Office of Inspector General for the Board of Governors of the Federal Reserve System and Consumer Financial Protection Bureau (FRB-CFPB OIG).