
← The Banker Next Door6 oct · 34 min
Chinese spy inside the Federal Reserve?
John Harold Rogers was prosecuted by federal authorities on one count of lying to investigators and one count of espionage. He was found guilty of lying to investigators but cleared on the espionage charge. He is currently serving a 38-month sentence. Mr. Rogers served as an economist and senior official at the Federal Reserve. His story takes many crazy twists and turns. He became the asset of a Chinese spy, who he shared a lot of information with over the years. Was this information publicly available or sensitive information not for public consumption? Mr. Rogers ended up marrying a Chinese girl and having a child with her. Was all this arranged by the Chinese contact? Maybe not, but his contact absolutely played the role of his benefactor and made many “things” happen. Mr. Rogers engaged in a lot of bizarre and out of the ordinary behavior that went on for a period of over 10 years. It is hard to imagine his superiors did not suspect that something was amiss. A recent OIG report found the Fed needed to improve security after multiple breaches. This episode reviewed multiple articles from The Wall Street Journal, Banking Dive, and CNBC.