Former Federal Reserve Senior Adviser John Harold Rogers, 63, from Vienna, Virginia, has been charged with economic espionage and making false statements. The Department of Justice accuses him of using his position to illegally share economic intelligence with China, potentially giving the country an unfair advantage in financial markets, according to the U.S. Attorney's Office.

"As alleged in the indictment, this defendant leveraged his position within the Federal Reserve to pass sensitive financial information to the Chinese government, a designated foreign adversary," U.S. Attorney Edward R. Martin, Jr. said. Rogers is accused of sharing confidential economic data with Chinese intelligence while working at the Federal Reserve from 2010 to 2021. This information could have been used to manipulate U.S. markets and undermine economic policies. The indictment also claims Rogers misled investigators during their inquiry, as reported by the U.S. Attorney's Office.

In 2020, he denied any wrongdoing and lied about his access to sensitive information. He faces up to 15 years in prison for espionage and five years for lying to investigators. Rogers also received about $450,000 as a part-time professor at a Chinese university in 2023. "This indictment sends a clear message that those who deliberately misuse sensitive Federal Reserve information for their own personal gain and lie about it to investigators will be held accountable for their actions," said John T. Perez, Special Agent in Charge at the FRB-CFPB OIG. The investigation is being led by the FBI and the Federal Reserve’s Office of Inspector General. Rogers is presumed innocent until proven guilty, as stated by the U.S. Attorney's Office.