Indictment Reveals Federal Reserve Compromised By Chinese Espionage

A former adviser to the Federal Reserve has been indicted for allegedly stealing sensitive financial data for the Chinese government, revealing another disturbing case of foreign espionage within a critical U.S. institution. John Harold Rogers, 63, faces charges of economic espionage and making false statements after authorities uncovered his dealings with Chinese intelligence operatives.

Rogers, who worked in the Federal Reserve’s Division of International Finance for over a decade, allegedly provided secret economic data to individuals linked to China’s intelligence services. Prosecutors say he began covertly transferring classified information in 2018 while posing as a part-time professor at a Chinese university. He was reportedly compensated with a lucrative salary totaling $450,000.

According to the indictment, the data Rogers supplied included discussions on upcoming interest rate decisions, classified economic analysis, and internal Federal Reserve reports. Officials say such information, if exploited by a foreign power, could be used to manipulate financial markets and gain an unfair economic advantage.

Beyond economic espionage, Rogers is also accused of attempting to obstruct the investigation by providing false information to federal authorities in 2020. Prosecutors say his deceptive statements disrupted efforts to uncover the extent of his actions. “Let this indictment serve as a warning—those who seek to exploit America’s financial system for the benefit of foreign adversaries will be held accountable,” said U.S. Attorney Edward R. Martin Jr.

The FBI has emphasized that China’s intelligence network has been expanding its efforts to infiltrate American institutions, particularly in financial and technology sectors. “This case is part of a broader pattern of economic espionage designed to weaken the United States,” said FBI Assistant Director David Sundberg.

With investigations continuing, intelligence officials are reviewing potential additional breaches within the Federal Reserve and other key financial agencies. As concerns over Beijing’s infiltration grow, national security experts are closely monitoring China’s escalating efforts to target U.S. economic infrastructure.