US charges former Federal Reserve official with spying for China

US prosecutors announced Friday that they had charged a former Federal Reserve adviser with economic espionage on behalf of China, accusing him of trying to steal trade secrets.

The US Department of Justice said it had charged John Harold Rogers, 63, with spying on behalf of Beijing while employed as a senior adviser at the Federal Reserve Board of Governors (FRB).

The indictment, unsealed on Friday, said Rogers had leaked secret information from the Fed’s board and from its powerful rate-setting committee while he was working for the FRB’s Division of International Finance.

“The confidential information that Rogers allegedly shared with his Chinese co-conspirators, who worked for the intelligence and security apparatus of China and who posed as graduate students at a PRC university, is economically valuable when secret,” the DOJ said in a statement.

The DOJ said that, since 2018, Rogers had “allegedly exploited his employment with the FRB by soliciting trade-secret information regarding proprietary economic data sets”, including deliberations on tariffs against China.

“He passed that information electronically to his personal email account, in violation of FRB policy, or printed it prior to travelling to China, in preparation for meetings with his co-conspirators,” they added.

In a shocking turn of events, a former Federal Reserve official has been charged with spying for China. The US government has accused the individual of passing sensitive economic information to Chinese authorities in exchange for monetary bribes.

This revelation has sent shockwaves throughout the intelligence community, as it raises concerns about the security of the US financial system and the potential impact on national security. The accused individual, who held a high-ranking position at the Federal Reserve, allegedly used his access to confidential information to benefit a foreign government.

The charges highlight the ongoing threat posed by foreign espionage and the need for heightened vigilance in safeguarding sensitive information. It also serves as a stark reminder of the importance of maintaining strict security protocols and ensuring the loyalty of those entrusted with critical roles in government agencies.

As the case unfolds, it will be interesting to see how the US government responds to this breach of trust and what measures will be taken to prevent similar incidents in the future. The implications of this scandal are far-reaching and underscore the need for continued diligence in protecting national interests from foreign espionage.

Tags:

1. US charges
2. former Federal Reserve official
3. spying for China
4. espionage charges
5. Federal Reserve
6. China spy scandal
7. economic espionage
8. US-China relations
9. national security
10. international espionage

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