Consultant working for US government revealed as Chinese agent: Alleged to have sold economic secrets

The US Department of Justice announced that John Harold Rogers, one of the Fed's senior consultants, has been arrested. Rogers is accused of engaging in economic espionage on behalf of China and stealing trade secrets.

According to the department's statement, during his time working at the Fed between 2010 and 2021, Rogers transferred classified information to individuals linked to Chinese intelligence units. It was also alleged that Rogers made false statements to the Fed as part of his activities with his Chinese collaborators.

It was stated that the information shared by Rogers could have enabled China to manipulate US financial markets. It was emphasized that critical information, such as changes in policy interest rates, could have helped China gain an advantage in the trading of US bonds and securities.

It was alleged that Rogers attempted to provide a strategic advantage by leveraging China's economic dependence on the US. China is currently one of the largest foreign creditors of the US.

The Department of Justice stated that following Rogers' arrest, the investigation has been deepened and an important step has been taken in terms of national security. It was reported that the trial process for Rogers will be closely monitored.

News Source: 12punto