Ex-Fed advisor sentenced for China ties

Harold Rogers, a former senior adviser at the United States — Federal Reserve Board of Governors, was sentenced to 38 months in federal prison for lying to investigators about sharing restricted United States — Federal Reserve information with Chinese intelligence operatives. Rogers was convicted in February 2026 of making false statements, while acquitted of conspiracy to commit economic espionage. Prosecutors revealed that Rogers had a clandestine relationship with Chinese intelligence operative Hummin Lee, meeting in Chinese hotel rooms and passing sensitive information, including United States — Federal Open Market Committee documents. In return, Rogers received substantial financial benefits, including professorships at Fudan University, totaling at least $900,000. The case highlights risks to U.S. Treasury securities trading, as China could use advance knowledge of Fed rate decisions.