DOJ: Former Federal Reserve Adviser Arrested for Leaking Trade Secrets to China
By Space Coast Daily // February 4, 2025
John Rogers, 63, had access to sensitive data
WASHINGTON, DC – A former Federal Reserve official has been arrested for allegedly providing confidential U.S. economic data to China, a move the Department of Justice (DOJ) claims could have allowed China to manipulate American financial markets similarly to insider trading.
John Rogers, 63, of Vienna, Virginia, who joined the Federal Reserve Board’s Division of International Finance in 2010, had access to sensitive economic data, including trade policies, interest rate deliberations, and classified briefing materials. According to the DOJ, Rogers, a senior adviser with a Ph.D. in economics, began sharing this information with Chinese officials.
Starting in 2013, Rogers reportedly received an email from a Chinese contact, and within a year, he embarked on multiple all-expenses-paid trips to China. During these visits, he conducted “classes” in hotel rooms, attended only by one or two individuals who, according to reports, were actually Chinese intelligence officers posing as students.
The DOJ emphasized that the data Rogers allegedly provided could have given China an unfair advantage in U.S. financial markets by allowing them to anticipate policy changes, such as adjustments to federal interest rates, and act accordingly in their economic dealings.
Rogers is also accused of violating Federal Reserve policies by transferring classified documents through his personal email. Despite a colleague warning him about the sensitivity of a particular briefing book, Rogers allegedly sent it to his personal account regardless.
In 2020, an internal investigation at the Federal Reserve questioned Rogers about his connections with Chinese officials. When asked if he had disclosed any sensitive information, he reportedly denied it.
By 2021, Rogers had left the Federal Reserve and relocated to China. Reports indicate that in 2022, he received another offer from a Chinese contact for an all-expenses-paid trip to Qingdao to conduct a “class,” though there is no evidence he accepted. However, in 2023, Rogers secured a part-time teaching position at Fudan University, earning nearly $450,000, according to the indictment.
On Friday, authorities arrested Rogers in Virginia, charging him with conspiracy to commit economic espionage and making false statements. He remains in custody without bail and is scheduled for arraignment on Tuesday.
His attorney, Jonathan Gitlen, stated that Rogers denies the charges and will provide further responses in due time.
Law enforcement officials strongly condemned Rogers’ alleged actions. Kevin Vorndran of the FBI’s Counterintelligence Division stated that Rogers had betrayed the United States by supplying restricted financial data to foreign intelligence officers. FBI official David Sundberg emphasized that China is increasingly targeting U.S. economic policies and trade secrets as part of its broader geopolitical strategy.
U.S. Attorney Edward Martin Jr. warned that those who seek to exploit the nation’s interests will face justice, reaffirming the commitment of federal authorities to safeguarding national security.
