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Former Federal Reserve official accused of passing secrets to China

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A former Federal Reserve official was arrested on Friday after American prosecutors accused him of transmitting economic secrets to China.

John Rogers, a main advisor to the Fed International Finance Division from 2010 to 21 of 2010, used his position to access confidential data on tariffs related to China, information sessions to officials and debates and policy ads, according to an accusation revealed on Friday in a federal court in the Federal Court of Washington.

Rogers, 63, from Virginia, was accused of transferring confidential information to his personal email account before printing and transmitting it to Chinese officials disguised as postgraduate students. He also used encryption messaging applications to communicate with Chinese officials, according to the accusation.

The Department of Justice said Friday that Rogers had “under the appearance of teaching” classes “”, fulfilled its conspirators in the rooms of Hotel Chinas, where they gave them sensitive secret information that belonged to the Fed.

He added that the economist had been paid around $ 450,000 as a part -time professor at Fudan University in China.

Rogers’ lawyer could not be contacted immediately to comment.

The accusation is the last of a growing number of cases in which officials of the entire government of the United States, and particularly agencies such as the CIA and the Army, have been accused of providing sensitive or secret information to the Chinese government.

In recent years, the Department of Justice has also become more public to highlight cases to underline the threat of Chinese espionage. Washington has accused Chinese pirates to attack US telecommunications networks in a massive and generalized campaign that has allowed perpetrators to access the conversations of US officials.

The Chinese embassy in Washington said that “it was not familiar” with the details of the Rogers case, but said that China “defends the rule of law.”

“We oppose any smear and attack against China with the so -called ‘spy risks’,” added the embassy.

The Chinese government is one of the greatest global headlines of the United States government bonds. Fed interest rates decisions and signals on future monetary policy movements can also influence the United States Treasury Bonds and are among the most observed reports in global financial markets.

The United States Treasury figures show that, as of November, China officially had $ 768.6 billion of the debt, which makes it the second largest foreign holder after Japan.

The accusation alleges that the confidential information was shared of “at least 2018” with alleged Chinese conspirators “who worked for China’s intelligence and security apparatus and that they passed through graduated students in a university (China).”

The Fed declined to comment.

Rogers, who speaks Chinese limited, discussed the teaching issues that would make meetings seem “legitimate in the eyes of the Fed”, according to the encrypted messages exchanged with their alleged co-conspirador that were summoned in the accusation.

Rogers’s trip was covered by his Chinese counterparts. “(D) Don’t worry about the cost of the trip. . . We do not waste money, but we can endure all the necessary cost, you can choose a comfortable and convenient way for the trip, ”said an alleged co-conspirator in a message included in the accusation.

Commercial secrets in the heart of the case allegedly include the evaluation of an announcement from the European Central Bank, informative notes for a member of the Fed Board and a document entitled “Prior information to the FOMC”, all of 2019.

Rogers in 2020 lied to the Fed Inspector General’s office when asked about his access and sharing sensitive material, prosecutors said.

Liza Tobin, former director of China of the National Security Council, said that the potential objectives should be more attentive to China’s approaches.

“There are some professional tips here: if someone from a Chinese university offers you $ 450,000 for part -time work, it escapes,” said Tobin, who is now managing director of Garnaut Global, a geopolitical advice firm. “Do not receive that type of offer due to your brilliance and charm.”

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