Federal authorities have arrested a former Federal Reserve senior adviser for allegedly giving inside economic information to China.

A former senior adviser to the U.S. Federal Reserve, John Harold Rogers, was arrested on charges he conspired to steal Fed trade secrets for the benefit of China, the Justice Department announced on Friday.

Senior Adviser John Harold Rogers, 63, of Vienna, Virginia, was detained today on suspicion of plotting to steal trade secrets from the Federal Reserve for the People's Republic of China (PRC), according to a press release by the United States Attorney's Office.