Washington, Feb. 1 -- John Harold Rogers, 63, of Vienna, Virginia, a former Senior Adviser for the Federal Reserve Board of Governors (FRB), was arrested on Friday on charges that he conspired to steal Federal Reserve trade secrets for the benefit of China, said US Department of Justice.

Further, the department stated that "In furtherance of the conspiracy, allegedly made false statements to the Office of Inspector General for the Board of Governors of the Federal Reserve System and the Consumer Financial Protection Bureau (FRB-OIG), and those false statements had a material impact on its investigation."

Following the arrest, Devin DeBacker, head of the Justice Department's National Security Division affirmed that the "Justice Departmen...