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A former senior Federal Reserve official has been sentenced to more than three years in prison for lying to federal investigators about sharing sensitive economic information with Chinese intelligence operatives.
John Harold Rogers, 64, was senior adviser for the international finance division of the Federal Reserve Board of Governors, the main governing body for the U.S. central bank, from 2010 to 2021.
On July 15, U.S. District Judge Dabney L. Friedrich sentenced Rogers to 38 months in federal prison, followed by 12 months of supervised release.
“John Rogers spent years secretly funneling sensitive Federal Reserve information to Chinese spies, then looked investigators in the eye and lied about it. And when that wasn’t enough, he lied again under oath at trial,” U.S. Attorney Jeanine Ferris Pirro of the District of Columbia said in a statement.
“Federal Reserve employees entrusted with America’s most sensitive economic information cannot sell out their country and their colleagues for personal gain and then expect to hide behind a single word.”
Rogers, of Vienna, Virginia, is a U.S. citizen who holds a doctoral degree in economics from the University of Virginia.
Rogers began developing a “clandestine relationship” with Chinese intelligence operative Lee Hummin in 2017, after the two met at a conference in China, according to prosecutors.
In the years that followed, Rogers met with Lee and other Chinese associates in hotel rooms in China, using academic classes as a cover while sharing Fed information that Lee had directed him to collect.
The FOMC, the Federal Reserve System’s monetary policymaking body, sets the target range for the federal funds rate and directs monetary policy actions, including quantitative easing and tightening.