Ex-Fed adviser gets 38 months for lying in China secrets probe
Why it matters: Prosecutors said advance Fed rate information could have aided trading in China’s roughly $1.5 trillion in US Treasurys.
Former Federal Reserve adviser John Harold Rogers was sentenced in Washington to 38 months in prison for lying to federal investigators about sharing restricted central bank information with Chinese intelligence operatives. A jury convicted Rogers, 64, in February of making false statements, but acquitted him of conspiracy to commit economic espionage. US District Judge Dabney Friedrich also imposed 12 months of supervised release. Rogers worked in the Fed board’s division of international finance from 2010 to 2021. Prosecutors said he developed a covert relationship with a Chinese operative in 2017, met contacts in hotel rooms in China and passed nonpublic information on monetary policy. They said he received financial benefits and university posts in return.