A former high -ranking consultant for the Federal Reserve was arrested on Friday because of the indictment that he had conspired to steal FED trade secrets for the benefit of China.
The data that the consultant John Harold Rogers supposedly shared with his co-snacks could allow China to manipulate the US market “in a similar way as the insider trade”, according to the US public prosecutor's office in Washington, DC
“The acquisition of US economic policy, including the prerequisite for changes to the Federal Fund, could offer China an advantage when selling or buying US bonds or paper,” said the office. The public prosecutor found that China will hold around 816 billion US dollars of the US government's debt.
Rogers' two alleged co-conspirators were members of the Chinese secret service and security apparatus who posed as a doctoral student at a university in this country, the prosecutors said.
These conspirators allegedly gave him gifts, arranged and paid a beach vacation for Rogers and arranged and paid for and paid his flight prices, accommodation and meals during his visits to China, where he then worked out of the Fed as a part -time professor at Fudan University in Shanghai.
Rogers, a 63-year-old Viennese, in Virginia, resident, who received her doctorate in economics, was charged before the Federal Court of the DC for the conspiracy of the commissioning of economic espionage and the submission of false statements. He faces a maximum possible prison sentence of 15 years if he is convicted of spy accuracy.
Rogers appeared in court on Friday, where a judge had temporarily arrested him at the request of prosecutors without receiving a hearing for a hearing for charges and imprisonment, which was planned for Tuesday.
A Federal Reserve declined to comment on CNBC when he was asked about Roger's arrest.
CNBC has requested a comment from a federal defender who represents Rogers.
The case was announced on the same day when the White House said that President Donald Trump will impose tariffs on Saturday as well as in Canada and Mexico.
From 2010 to 2021, Rogers worked as a senior consultant in the international finance department of the Federal Reserve Board of Governors, said the US law firm.
As part of this job, he was “entrusted with confidential FRB information,” said the public prosecutor.
Rogers has supposedly classified his employment since 2018 through the objections of trade-secreted economic data, consultations about tariffs that aim at China, books for named governors and sensitive information about the Federal Open Market Committee and the upcoming announcements, the announcements, , and the upcoming announcements “, the sensitive information about the Federal Market Committee and the upcoming announcements”, the US Property Office said.
The FOMC is responsible for determining the Federal Fund interest rate. FOMC decisions about this interest rate can significantly impair the US financial markets.
The indictment accuses him of handing over this information electronically from his personal email, in violation of the FED directive or printing out before traveling to China to meet co-snacks.
“Under the guise of teaching” Courses “Rogers met his co-swords in Hotelzimmern in China, where he transmits sensitive information that belonged to the FRB and the FOMC,” said the American law firm.
Rogers received around $ 450,000 as a part-time professor at a Chinese university in 2023.
The indictment claims that in February 2020 in response to the survey of the General Inspector of the Fed-Der Wachdund of the Central Bank Rogers about his access and the adoption of sensitive information and his associations with his co-suppliers. “
The deputy director of the FBI, who is responsible for the Washington Office David Sundberg, said in a statement: “The China Communist Party has expanded its economic espionage campaign to set the US government and trade secrets undermine and become the only superpower. “
Sundberg was announced on Thursday that he was forced the FBI from the FBI, NBC News reported on Friday, citing two high -ranking law enforcement sources.
His departure is part of a cleaning of the leading FBI executives and the management of the office of office by the new Trump administration.
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