John Harold Rogers Arrested for Allegedly Sharing Federal Reserve Secrets with China
John Harold Rogers Arrested for Allegedly Sharing Federal Reserve Secrets with China
John Harold Rogers, a 63-year-old former Senior Adviser for the Federal Reserve Board of Governors, was arrested in Vienna, Virginia. He is accused of conspiring to steal trade secrets from the Federal Reserve to benefit China, according to the US Department of Justice.
Allegations and Investigation
The Justice Department claims Rogers made false statements to the Office of Inspector General for the Federal Reserve and the Consumer Financial Protection Bureau, impacting their investigation. Devin DeBacker from the Justice Department's National Security Division emphasized the department's commitment to disrupting economic espionage and protecting national security.
US Attorney Edward R. Martin Jr. stated that Rogers allegedly used his position to pass sensitive financial information to the Chinese government. FBI Assistant Director Kevin Vorndran noted that this information could give adversaries a strategic economic advantage.
Details of the Indictment
Rogers, who worked at the Federal Reserve from 2010 to 2021, allegedly shared confidential information with Chinese intelligence officers posing as students. This information could allow China to manipulate the US market. The indictment claims Rogers solicited trade-secret information and passed it to his personal email or printed it before traveling to China.
In 2023, Rogers was paid $450,000 as a part-time professor at a Chinese university. He allegedly lied about his actions during questioning in 2020. The FBI and FRB-OIG are investigating, and the case is being prosecuted by Assistant US Attorney Kimberly Paschall and others.
Rogers is charged with conspiracy to commit economic espionage and making false statements. He is presumed innocent until proven guilty in court.
Doubts Revealed
Federal Reserve
The Federal Reserve is like a big bank for the United States. It helps keep the country's money safe and makes sure the economy is running smoothly.
US Department of Justice
The US Department of Justice is a part of the government that makes sure people follow the law. They investigate and take action when someone breaks the law.
Trade secrets
Trade secrets are special information that companies or organizations keep secret to stay successful. Sharing them without permission is like telling someone a secret that you promised to keep.
Chinese intelligence officers
Chinese intelligence officers are people who work for China's government to gather important information. They try to learn secrets from other countries to help China.
FBI
The FBI, or Federal Bureau of Investigation, is a group in the US that investigates serious crimes. They help catch people who break important laws.
FRB-OIG
FRB-OIG stands for Federal Reserve Board - Office of Inspector General. They check if the Federal Reserve is doing its job correctly and investigate any problems.
Conspiracy
Conspiracy means when two or more people plan together to do something illegal or wrong. It's like making a secret plan to break the rules.
False statements
False statements are when someone says something that is not true. It's like telling a lie, especially when you are supposed to tell the truth.
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