John Rogers was a senior adviser in the division of international finance at the Federal Reserve from 2010-21 © Reuters
On Friday, a former senior official at the Federal Reserve was arrested. US prosecutors say he shared economic secrets with China. John Rogers, 63, worked as a senior adviser in the Fed’s international finance division from 2010 to 2021. He is accused of accessing sensitive information about China-related tariffs, policy discussions, and official briefings. This information was later shared with Chinese officials, according to a court document released on Friday.
Rogers, who lives in Virginia, allegedly sent sensitive data to his personal email. He then printed it and gave it to Chinese officials who were pretending to be graduate students. The court document also says he used encrypted messaging apps to talk to Chinese officials. The US Justice Department claims Rogers met his contacts in Chinese hotel rooms. He reportedly gave them secret information while pretending to teach classes.
Rogers was paid around $450,000 as a part-time professor at Fudan University in China. His lawyer could not be reached for comment. This case is part of a growing number of incidents where US officials have been accused of sharing secrets with China. Many of these cases involve people from agencies like the CIA and the military.
In recent years, the US government has been more open about cases involving Chinese espionage. Washington has accused Chinese hackers of attacking US telecom networks. These attacks reportedly allowed them to listen to conversations of American officials. The Chinese embassy in Washington said it does not know the details of Rogers’ case. However, it added that China follows the rule of law and rejects any false claims about spying.
China is one of the largest holders of US government debt. As of November, China officially held $768.6 billion in US Treasury bonds. This makes it the second-largest foreign holder after Japan. Decisions by the Federal Reserve on interest rates and future policies can affect these bonds. This makes Fed reports very important to global financial markets.
The court document says Rogers shared sensitive information with Chinese officials from at least 2018. These officials were allegedly part of China’s intelligence and security agencies. They posed as graduate students at a Chinese university. The Federal Reserve declined to comment on the case.
Rogers, who speaks limited Chinese, discussed teaching topics to make his meetings seem legitimate. This was mentioned in encrypted messages with his alleged contacts. His travel expenses were paid by his Chinese counterparts. One message in the court document said, “Don’t worry about the cost of the trip… we can bear all the necessary cost.”
The secrets involved in the case include assessments of a European Central Bank announcement, briefing notes for a Fed board member, and a document titled “Pre-FOMC Briefing.” All these documents are from 2019. Prosecutors say Rogers lied to the Fed’s inspector general in 2020 when asked about sharing sensitive information.
This case highlights ongoing concerns about espionage and the protection of sensitive government information.
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