New York Financier Howard Rubin Arrested on Sex-Trafficking Charges
Retired Wall Street financier Howard Rubin and his former personal assistant Jennifer Powers were arrested Friday on federal charges accusing them of running a sex trafficking ring that prosecutors say spanned a decade and involved violence so severe that one woman required surgery. A federal indictment unsealed in Brooklyn charges Rubin, 70, and Powers, 45, with sex trafficking and transporting women across state lines for commercial sex acts. Rubin also faces a bank fraud charge tied to allegedly falsified information used to secure financing for Powers’ mortgage, according to the U.S. attorney’s office for the Eastern District of New York. Prosecutors allege that from 2009 to 2019, Rubin used his wealth to recruit women for encounters under the guise of consensual BDSM but then inflicted violence “beyond their consent,” causing physical injuries and long-term psychological harm. Powers is accused of arranging travel, accommodations, and payments, and of outfitting a Manhattan penthouse apartment with soundproofed rooms and specialized equipment described by prosecutors as a “sex dungeon.” The indictment details how women were flown into New York, paid between $2,000 and $5,000 per encounter, and often subjected to violence. In some cases, the women were bound, gagged, or unconscious, making it impossible for them to withdraw consent. Prosecutors said Rubin disregarded safe words and inflicted injuries, including flipped breast implants that required surgery. Rubin allegedly spent at least $1 million maintaining the operation and funded Powers’ personal expenses, including private school tuition for her children and housing costs in Manhattan and Texas. Court filings state Rubin held $74.4 million in an offshore account in 2024, and prosecutors are seeking to keep him jailed without bail, citing flight risk and community safety. Both Rubin and Powers face a mandatory minimum of 15 years in prison and a maximum sentence of life if convicted on the trafficking charges. Rubin previously worked at Merrill Lynch, Bear Stearns, and Soros Fund Management. His attorneys did not immediately respond to requests for comment.
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