India, Feb. 2 -- A former Senior Adviser for the Federal Reserve Board of Governors (FRB) has been arrested on charges of conspiring to steal Federal Reserve trade secrets for the benefit of the People's Republic of China (PRC), US Department of Justice said.

The arrested person was identified as 63-year-old John Harold Rogers from Vienna, Virginia.

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.

"As alleged, the defendant violated the trust placed in him by the Federal Reserve Bank by putting U.S. trad...